Lombard Odier Asset Management USA Corp Acquires New Shares in Medifast, Inc. (NYSE:MED)

Lombard Odier Asset Management USA Corp acquired a new stake in Medifast, Inc. (NYSE:MED) during the first quarter, Holdings Channel reports. The fund acquired 22,650 shares of the specialty retailer’s stock, valued at approximately $4,798,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MED. Baillie Gifford & Co. acquired a new position in Medifast in the first quarter valued at approximately $28,000. C M Bidwell & Associates Ltd. raised its position in Medifast by 26.5% in the first quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 40 shares during the period. Public Employees Retirement System of Ohio raised its position in Medifast by 17.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 268 shares of the specialty retailer’s stock valued at $53,000 after purchasing an additional 40 shares during the period. Captrust Financial Advisors raised its position in Medifast by 1,175.0% in the first quarter. Captrust Financial Advisors now owns 255 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 235 shares during the period. Finally, Harbour Investments Inc. purchased a new stake in Medifast in the first quarter valued at approximately $59,000. Hedge funds and other institutional investors own 81.39% of the company’s stock.

Shares of Medifast stock traded down $2.48 during trading hours on Thursday, reaching $278.49. 93 shares of the company were exchanged, compared to its average volume of 82,984. Medifast, Inc. has a 1 year low of $139.59 and a 1 year high of $336.99. The firm has a fifty day moving average of $293.04. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 26.51 and a beta of 1.42.

Medifast (NYSE:MED) last posted its quarterly earnings data on Tuesday, May 4th. The specialty retailer reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.74. The business had revenue of $340.70 million for the quarter, compared to analyst estimates of $279.12 million. Medifast had a return on equity of 85.97% and a net margin of 11.44%. The business’s quarterly revenue was up 90.9% compared to the same quarter last year. Sell-side analysts predict that Medifast, Inc. will post 13.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Tuesday, June 22nd will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, June 21st. Medifast’s dividend payout ratio (DPR) is presently 62.14%.

In related news, Director Jeffrey J. Brown acquired 180 shares of the firm’s stock in a transaction on Thursday, May 6th. The stock was bought at an average price of $225.04 per share, for a total transaction of $40,507.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Schlackman sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 19th. The shares were sold at an average price of $310.23, for a total transaction of $310,230.00. Following the completion of the transaction, the director now owns 5,231 shares of the company’s stock, valued at approximately $1,622,813.13. The disclosure for this sale can be found here. Insiders sold 22,481 shares of company stock worth $6,373,977 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

A number of analysts have issued reports on MED shares. B. Riley boosted their target price on Medifast from $310.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. DA Davidson upped their price objective on Medifast from $302.00 to $395.00 and gave the stock a “buy” rating in a research report on Wednesday, May 5th.

Medifast Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. It offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by Take Shape for Life, and Flavors of Home brands.

Read More: Most Active Stocks: Dollar Volume vs Share Volume

Want to see what other hedge funds are holding MED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medifast, Inc. (NYSE:MED).

Institutional Ownership by Quarter for Medifast (NYSE:MED)

Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.