Meeder Asset Management Inc. decreased its holdings in shares of Medifast Inc (NYSE:MED) by 60.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,923 shares of the specialty retailer’s stock after selling 2,979 shares during the period. Meeder Asset Management Inc.’s holdings in Medifast were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Medifast during the 2nd quarter valued at about $541,000. Dean Capital Management boosted its position in shares of Medifast by 40.1% during the 2nd quarter. Dean Capital Management now owns 66,350 shares of the specialty retailer’s stock valued at $2,751,000 after purchasing an additional 18,995 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Medifast by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,352 shares of the specialty retailer’s stock valued at $346,000 after purchasing an additional 123 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Medifast by 0.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 161,935 shares of the specialty retailer’s stock valued at $6,715,000 after purchasing an additional 1,164 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Medifast by 3.5% during the 2nd quarter. State Street Corp now owns 322,325 shares of the specialty retailer’s stock valued at $13,367,000 after purchasing an additional 10,854 shares in the last quarter. Institutional investors own 89.43% of the company’s stock.
MED has been the subject of several recent analyst reports. DA Davidson raised their target price on shares of Medifast from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Sidoti reiterated a “neutral” rating and issued a $55.00 target price (up from $49.00) on shares of Medifast in a report on Thursday, September 21st. Finally, BidaskClub upgraded shares of Medifast from a “sell” rating to a “hold” rating in a report on Saturday, August 19th.
Medifast Inc (MED) opened at 62.41 on Monday. The firm has a 50 day moving average of $59.63 and a 200 day moving average of $48.93. Medifast Inc has a one year low of $36.70 and a one year high of $64.26. The firm has a market capitalization of $744.55 million, a PE ratio of 31.36 and a beta of 0.46.
Medifast (NYSE:MED) last posted its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.10. The company had revenue of $75.70 million during 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 company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. Equities analysts forecast that Medifast Inc will post $2.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, September 21st. This represents a $1.28 annualized dividend and a dividend yield of 2.05%. Medifast’s payout ratio is currently 64.32%.
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.
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