Medifast (NYSE:MED) released its quarterly earnings data on Tuesday. The specialty retailer reported $1.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.14, Briefing.com reports. The firm had revenue of $139.20 million during the quarter, compared to the consensus estimate of $125.20 million. Medifast had a return on equity of 37.25% and a net margin of 10.87%. The company’s quarterly revenue was up 80.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 earnings per share.
Shares of NYSE MED traded down $61.57 during midday trading on Wednesday, hitting $153.31. 978,100 shares of the stock traded hands, compared to its average volume of 208,905. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 66.95, a P/E/G ratio of 2.35 and a beta of 0.54. Medifast has a one year low of $61.96 and a one year high of $260.98.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Friday, September 21st will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.25%. Medifast’s dividend payout ratio is 83.84%.
Several equities research analysts have recently commented on MED shares. Zacks Investment Research downgraded Medifast from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 4th. DA Davidson boosted their price objective on Medifast to $249.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, ValuEngine upgraded Medifast from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 4th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MED. Intrinsic Edge Capital Management LLC bought a new stake in shares of Medifast during the second quarter valued at approximately $9,222,000. MUFG Securities EMEA plc bought a new stake in Medifast during the second quarter worth $8,408,000. BlackRock Inc. grew its holdings in Medifast by 3.1% during the second quarter. BlackRock Inc. now owns 1,541,912 shares of the specialty retailer’s stock worth $246,952,000 after buying an additional 46,393 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Medifast during the third quarter worth $8,311,000. Finally, Allianz Asset Management GmbH grew its holdings in Medifast by 218.1% during the first quarter. Allianz Asset Management GmbH now owns 51,227 shares of the specialty retailer’s stock worth $4,787,000 after buying an additional 35,124 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
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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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