Goldman Sachs Group Inc. grew its position in shares of Medifast Inc (NYSE:MED) by 197.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,606 shares of the specialty retailer’s stock after purchasing an additional 59,437 shares during the period. Goldman Sachs Group Inc. owned 0.75% of Medifast worth $3,716,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Acrospire Investment Management LLC purchased a new stake in shares of Medifast during the second quarter valued at approximately $108,000. 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 worth $116,000 after buying an additional 170 shares during the last quarter. Sei Investments Co. increased its stake in shares of Medifast by 95.9% in the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock worth $163,000 after buying an additional 1,920 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Medifast by 86.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock valued at $174,000 after purchasing an additional 1,939 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Medifast during the second quarter valued at $203,000. 89.24% of the stock is currently owned by institutional investors.
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Shares of Medifast Inc (NYSE:MED) traded down $0.12 during trading on Friday, reaching $69.28. 96,100 shares of the company’s stock traded hands, compared to its average volume of 91,776. The company has a market capitalization of $828.32, a PE ratio of 34.19, a PEG ratio of 2.13 and a beta of 0.45. Medifast Inc has a 12-month low of $37.67 and a 12-month high of $71.73.
Medifast (NYSE:MED) last posted its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. The firm had revenue of $77.20 million for the quarter, compared to the consensus estimate of $74.94 million. Medifast had a return on equity of 24.07% and a net margin of 8.58%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. equities analysts anticipate that Medifast Inc will post 2.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 22nd were issued a $0.32 dividend. The ex-dividend date was Thursday, September 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.85%. Medifast’s dividend payout ratio is 63.05%.
MED has been the subject of several analyst reports. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Friday. DA Davidson began coverage on shares of Medifast in a report on Wednesday, August 16th. They set a “buy” rating for the company. BidaskClub raised shares of Medifast from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Sidoti reaffirmed a “neutral” rating and issued a $55.00 price objective (up previously from $49.00) on shares of Medifast in a report on Thursday, September 21st.
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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