Sandy Spring Bank purchased a new stake in Medifast Inc (NYSE:MED) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 200 shares of the specialty retailer’s stock, valued at approximately $26,000.
Several other institutional investors have also recently bought and sold shares of MED. Financial Gravity Wealth Inc. boosted its position in shares of Medifast by 853.8% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 222 shares during the period. Macquarie Group Ltd. boosted its position in shares of Medifast by 41.8% during the 4th quarter. Macquarie Group Ltd. now owns 339 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 100 shares during the period. Systematic Financial Management LP purchased a new position in shares of Medifast during the 2nd quarter worth approximately $94,000. Convergence Investment Partners LLC purchased a new position in shares of Medifast during the 2nd quarter worth approximately $105,000. Finally, Victory Capital Management Inc. boosted its position in shares of Medifast by 64.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,420 shares of the specialty retailer’s stock worth $181,000 after purchasing an additional 554 shares during the period. 98.18% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on MED. Jefferies Financial Group began coverage on shares of Medifast in a research report on Thursday, July 25th. They set a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Tuesday, August 6th. Finally, ValuEngine cut shares of Medifast from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th.
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, topping 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 business earned $1.16 EPS. Equities research analysts forecast that Medifast Inc will post 6.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Friday, June 28th were issued a dividend of $0.75 per share. 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 2.96%. Medifast’s dividend payout ratio (DPR) is presently 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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