Medifast Inc (NYSE:MED) Announces Quarterly Earnings Results

Medifast Inc (NYSE:MED) issued its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10, Bloomberg Earnings reports. The company had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. Medifast had a return on equity of 24.25% and a net margin of 8.62%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. Medifast updated its Q3 guidance to $0.48-$0.51 EPS and its FY17 guidance to $2.05-$2.15 EPS.

Medifast (NYSE MED) opened at 55.82 on Friday. The company’s 50 day moving average price is $44.13 and its 200-day moving average price is $43.73. Medifast has a 12-month low of $35.38 and a 12-month high of $56.41. The stock has a market cap of $665.93 million, a price-to-earnings ratio of 28.05 and a beta of 0.48.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Friday, June 23rd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, June 21st. Medifast’s dividend payout ratio is currently 64.32%.

Several equities analysts have issued reports on the company. Sidoti lowered Medifast from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. BidaskClub raised Medifast from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Finally, DA Davidson began coverage on Medifast in a report on Wednesday. They set a “buy” rating on the stock.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Chicago Equity Partners LLC boosted its position in Medifast by 0.3% in the first quarter. Chicago Equity Partners LLC now owns 17,370 shares of the specialty retailer’s stock valued at $771,000 after buying an additional 50 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Medifast by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,173 shares of the specialty retailer’s stock valued at $230,000 after buying an additional 91 shares during the period. Arizona State Retirement System boosted its position in Medifast by 1.8% in the first quarter. Arizona State Retirement System now owns 5,813 shares of the specialty retailer’s stock valued at $258,000 after buying an additional 100 shares during the period. HL Financial Services LLC boosted its position in Medifast by 1.5% in the first quarter. HL Financial Services LLC now owns 8,088 shares of the specialty retailer’s stock valued at $359,000 after buying an additional 119 shares during the period. Finally, Texas Permanent School Fund boosted its position in Medifast by 1.5% in the second quarter. Texas Permanent School Fund now owns 8,185 shares of the specialty retailer’s stock valued at $339,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Medifast Company Profile

Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.

Earnings History for Medifast (NYSE:MED)

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