Medifast Inc (NYSE:MED) shares fell 0.3% on Friday . The company traded as low as $146.25 and last traded at $154.81. 373,701 shares changed hands during trading, an increase of 116% from the average session volume of 172,758 shares. The stock had previously closed at $154.30.
A number of research firms recently weighed in on MED. DA Davidson lifted their target price on shares of Medifast from $135.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, May 24th. Sidoti restated a “neutral” rating on shares of Medifast in a research note on Thursday, April 19th. ValuEngine upgraded shares of Medifast from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $97.00 price target on the stock in a research note on Saturday, March 10th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. Medifast presently has a consensus rating of “Buy” and a consensus price target of $104.33.
The company has a market capitalization of $1.86 billion, a P/E ratio of 67.60, a price-to-earnings-growth ratio of 2.82 and a beta of 0.35.
Medifast (NYSE:MED) last announced its quarterly earnings results on Thursday, May 3rd. The specialty retailer reported $1.01 EPS for the quarter, topping the consensus estimate of $0.86 by $0.15. The business had revenue of $98.60 million for the quarter, compared to analysts’ expectations of $89.23 million. Medifast had a net margin of 10.26% and a return on equity of 31.11%. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. research analysts forecast that Medifast Inc will post 3.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 8th. Shareholders of record on Friday, June 29th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, June 28th. Medifast’s payout ratio is currently 83.84%.
A number of hedge funds have recently made changes to their positions in the business. Allianz Asset Management GmbH lifted its stake in Medifast by 218.1% in the 1st quarter. Allianz Asset Management GmbH now owns 51,227 shares of the specialty retailer’s stock worth $4,787,000 after purchasing an additional 35,124 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Medifast by 9,949.4% in the 1st quarter. Summit Trail Advisors LLC now owns 174,859 shares of the specialty retailer’s stock worth $175,000 after purchasing an additional 173,119 shares in the last quarter. WINTON GROUP Ltd lifted its stake in Medifast by 8.7% in the 1st quarter. WINTON GROUP Ltd now owns 91,984 shares of the specialty retailer’s stock worth $8,596,000 after purchasing an additional 7,363 shares in the last quarter. Legal & General Group Plc lifted its stake in Medifast by 3.8% in the 1st quarter. Legal & General Group Plc now owns 19,700 shares of the specialty retailer’s stock worth $1,827,000 after purchasing an additional 728 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Medifast in the 1st quarter worth $645,000. Institutional investors and hedge funds own 89.88% of the company’s stock.
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.
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