Vanguard Group Inc. Boosts Holdings in Medifast Inc (MED)

Vanguard Group Inc. raised its position in shares of Medifast Inc (NYSE:MED) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 657,254 shares of the company’s stock after acquiring an additional 13,982 shares during the period. Vanguard Group Inc. owned approximately 5.51% of Medifast worth $27,256,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new stake in Medifast during the second quarter valued at about $108,000. Sei Investments Co. grew its position in Medifast by 95.9% during the second quarter. Sei Investments Co. now owns 3,922 shares of the company’s stock valued at $163,000 after acquiring an additional 1,920 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Medifast by 86.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the company’s stock worth $174,000 after buying an additional 1,939 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Medifast in the second quarter worth about $203,000. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Medifast in the first quarter worth about $218,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Friday. DA Davidson upped their target price on Medifast from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, September 15th. BidaskClub raised Medifast from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Sidoti reaffirmed a “neutral” rating and issued a $55.00 target price (up previously from $49.00) on shares of Medifast in a research report on Thursday, September 21st.

Shares of Medifast Inc (NYSE MED) opened at C$69.28 on Friday. Medifast Inc has a 1 year low of C$37.67 and a 1 year high of C$71.73. The firm has a market capitalization of $826.79, a PE ratio of 34.13, a PEG ratio of 2.13 and a beta of 0.45.

Medifast (NYSE:MED) last issued its earnings results on Tuesday, November 7th. The company reported C$0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.51 by C$0.04. Medifast had a return on equity of 24.07% and a net margin of 8.58%. The company had revenue of C$77.20 million during the quarter, compared to the consensus estimate of C$74.94 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. analysts predict that Medifast Inc will post 2.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Friday, September 22nd were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Thursday, September 21st. Medifast’s dividend payout ratio is currently 63.05%.

About Medifast

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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