Campbell & CO Investment Adviser LLC bought a new position in shares of Medifast Inc (NYSE:MED) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,200 shares of the specialty retailer’s stock, valued at approximately $362,000.
Several other hedge funds have also made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. increased its position in shares of Medifast by 31.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 45,150 shares of the specialty retailer’s stock worth $5,758,000 after purchasing an additional 10,792 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Medifast by 44.6% during the 1st quarter. JPMorgan Chase & Co. now owns 34,221 shares of the specialty retailer’s stock valued at $2,138,000 after purchasing an additional 10,552 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Medifast by 14.8% in the first quarter. Victory Capital Management Inc. now owns 26,973 shares of the specialty retailer’s stock worth $1,686,000 after buying an additional 3,476 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Medifast by 44.8% during the first quarter. Nuveen Asset Management LLC now owns 67,631 shares of the specialty retailer’s stock worth $4,227,000 after buying an additional 20,919 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Medifast by 32.4% during the first quarter. Deutsche Bank AG now owns 98,986 shares of the specialty retailer’s stock valued at $6,186,000 after buying an additional 24,221 shares during the last quarter.
A number of equities analysts recently issued reports on the company. ValuEngine lowered Medifast from a “hold” rating to a “sell” rating in a research note on Thursday, October 8th. B. Riley raised their price objective on Medifast from $220.00 to $230.00 in a research note on Friday, October 9th. Jefferies Financial Group upgraded Medifast to a “buy” rating and set a $210.00 target price on the stock in a research report on Thursday, October 1st. Zacks Investment Research lowered shares of Medifast from a “buy” rating to a “hold” rating and set a $174.00 price target for the company. in a research report on Monday, October 12th. Finally, DA Davidson lifted their price objective on shares of Medifast from $86.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Medifast has a consensus rating of “Hold” and an average target price of $198.50.
In other Medifast news, Director Michael C. Macdonald sold 5,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $165.37, for a total transaction of $826,850.00. Following the completion of the transaction, the director now directly owns 271,002 shares in the company, valued at $44,815,600.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.
Medifast stock opened at $155.99 on Friday. The business’s 50-day moving average price is $167.49 and its 200 day moving average price is $129.69. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 24.37 and a beta of 1.18. Medifast Inc has a 52 week low of $49.03 and a 52 week high of $184.29.
Medifast (NYSE:MED) last issued its quarterly earnings data on Wednesday, August 5th. The specialty retailer reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $220.00 million for the quarter, compared to analysts’ expectations of $194.75 million. Medifast had a net margin of 10.04% and a return on equity of 68.55%. On average, sell-side analysts anticipate that Medifast Inc will post 8.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Tuesday, September 22nd will be paid a $1.13 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.52 dividend on an annualized basis and a yield of 2.90%. Medifast’s dividend payout ratio is currently 75.84%.
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.
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