Spark Investment Management LLC Continues to Hold Position in Medifast Inc (NYSE:MED)

Spark Investment Management LLC maintained its stake in shares of Medifast Inc (NYSE:MED) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,000 shares of the specialty retailer’s stock at the end of the second quarter. Spark Investment Management LLC owned about 0.26% of Medifast worth $1,285,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in MED. Mason Street Advisors LLC increased its stake in shares of Medifast by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,604 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 170 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Medifast during the first quarter worth about $179,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Medifast by 32.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 4,100 shares of the specialty retailer’s stock worth $171,000 after buying an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Medifast during the second quarter worth about $203,000. Finally, OppenheimerFunds Inc. bought a new stake in shares of Medifast during the first quarter worth about $218,000. 92.09% of the stock is currently owned by institutional investors.

Medifast Inc (MED) traded up 0.07% on Friday, reaching $55.82. 205,766 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $44.13 and a 200-day moving average price of $43.73. The stock has a market capitalization of $665.93 million, a price-to-earnings ratio of 28.05 and a beta of 0.48. Medifast Inc has a 52 week low of $35.55 and a 52 week high of $56.41.

Medifast (NYSE:MED) last announced its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $75.70 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, analysts predict that Medifast Inc will post $2.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Friday, June 23rd were given 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 payout ratio is 64.32%.

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A number of equities research analysts have commented on MED shares. DA Davidson began coverage on shares of Medifast in a research note on Wednesday. They set a “buy” rating on the stock. BidaskClub upgraded shares of Medifast from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Sidoti cut shares of Medifast from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd.

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.

Institutional Ownership by Quarter for Medifast (NYSE:MED)

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