Globeflex Capital L P reduced its holdings in Medifast, Inc. (NYSE:MED) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,494 shares of the specialty retailer’s stock after selling 816 shares during the quarter. Globeflex Capital L P owned about 0.06% of Medifast worth $1,068,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of Medifast by 38.4% during the 2nd quarter. Sei Investments Co. now owns 36,940 shares of the specialty retailer’s stock worth $5,129,000 after buying an additional 10,257 shares during the period. Swiss National Bank boosted its holdings in Medifast by 3.1% during the second quarter. Swiss National Bank now owns 23,400 shares of the specialty retailer’s stock valued at $3,247,000 after acquiring an additional 700 shares during the period. First Trust Advisors LP raised its position in Medifast by 305.2% in the third quarter. First Trust Advisors LP now owns 41,198 shares of the specialty retailer’s stock worth $6,775,000 after purchasing an additional 31,030 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Medifast by 12.6% during the second quarter. Principal Financial Group Inc. now owns 198,336 shares of the specialty retailer’s stock worth $27,523,000 after buying an additional 22,148 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Medifast by 28.5% during the second quarter. Nuveen Asset Management LLC now owns 86,935 shares of the specialty retailer’s stock worth $12,064,000 after buying an additional 19,304 shares in the last quarter.
Medifast stock opened at $206.37 on Monday. Medifast, Inc. has a 1-year low of $49.03 and a 1-year high of $206.37. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 25.83 and a beta of 1.30. The firm’s fifty day moving average price is $163.37 and its two-hundred day moving average price is $149.29.
Medifast (NYSE:MED) last released its quarterly earnings data on Monday, November 2nd. The specialty retailer reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.42. The company had revenue of $271.40 million during the quarter, compared to analyst estimates of $242.50 million. Medifast had a net margin of 11.27% and a return on equity of 80.07%. Medifast’s revenue was up 42.8% compared to the same quarter last year. During the same period last year, the business earned $1.32 earnings per share. As a group, sell-side analysts forecast that Medifast, Inc. will post 9.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Tuesday, September 22nd were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.19%. The ex-dividend date was Monday, September 21st. Medifast’s payout ratio is currently 75.84%.
In other news, Director Michael C. Macdonald sold 5,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $165.37, for a total transaction of $826,850.00. Following the completion of the sale, the director now owns 271,002 shares in the company, valued at approximately $44,815,600.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.
A number of brokerages have issued reports on MED. B. Riley raised their price objective on shares of Medifast from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Zacks Investment Research cut shares of Medifast from a “buy” rating to a “hold” rating and set a $174.00 price objective on the stock. in a research report on Monday, October 12th. ValuEngine raised shares of Medifast from a “sell” rating to a “hold” rating in a research report on Monday, November 23rd. Jefferies Financial Group raised shares of Medifast to a “buy” rating and set a $210.00 price objective on the stock in a research report on Thursday, October 1st. Finally, DA Davidson upgraded shares of Medifast from a “neutral” rating to a “buy” rating and lifted their price target for the company from $180.00 to $205.00 in a research note on Thursday, November 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $209.75.
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. 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 Take Shape for Life, and Flavors of Home brands.
Featured Article: Support Level
Want to see what other hedge funds are holding MED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medifast, Inc. (NYSE:MED).
Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.