Seizert Capital Partners LLC cut its stake in shares of Medifast Inc (NYSE:MED) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,729 shares of the specialty retailer’s stock after selling 208 shares during the quarter. Seizert Capital Partners LLC’s holdings in Medifast were worth $607,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of MED. Sandy Spring Bank acquired a new stake in Medifast in the 2nd quarter valued at about $26,000. Financial Gravity Wealth Inc. grew its stake in Medifast by 853.8% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 222 shares during the last quarter. Advisors Preferred LLC acquired a new stake in Medifast in the 2nd quarter valued at about $49,000. Systematic Financial Management LP acquired a new stake in Medifast in the 2nd quarter valued at about $94,000. Finally, Convergence Investment Partners LLC acquired a new stake in Medifast in the 2nd quarter valued at about $105,000. 97.90% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on MED. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Tuesday, August 6th. ValuEngine cut shares of Medifast from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group began coverage on shares of Medifast in a research note on Thursday, July 25th. They issued a “buy” rating and a $130.00 price objective on the stock.
NYSE MED traded down $5.70 during trading hours on Friday, reaching $100.56. The company’s stock had a trading volume of 301,598 shares, compared to its average volume of 388,149. The stock has a market cap of $1.26 billion, a PE ratio of 21.77 and a beta of 0.71. Medifast Inc has a fifty-two week low of $96.40 and a fifty-two week high of $260.98. The company’s 50-day moving average is $109.60 and its two-hundred day moving average is $128.84.
Medifast (NYSE:MED) last released its earnings results on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.04. The company had revenue of $187.10 million for the quarter, compared to analyst estimates of $181.74 million. Medifast had a net margin of 11.22% and a return on equity of 61.06%. The firm’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, equities research analysts forecast that Medifast Inc will post 6.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Friday, June 28th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.00 dividend on an annualized basis and a yield of 2.98%. Medifast’s dividend payout ratio (DPR) is 64.94%.
Medifast Company Profile
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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