Ifrah Financial Services Inc. lowered its holdings in shares of Medifast Inc (NYSE:MED) by 30.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,784 shares of the specialty retailer’s stock after selling 795 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Medifast were worth $395,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MED. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Medifast during the second quarter worth about $9,222,000. MUFG Securities EMEA plc acquired a new stake in Medifast in the 2nd quarter valued at approximately $8,408,000. BlackRock Inc. raised its position in Medifast by 3.1% in the 2nd quarter. BlackRock Inc. now owns 1,541,912 shares of the specialty retailer’s stock valued at $246,952,000 after buying an additional 46,393 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Medifast in the 3rd quarter valued at approximately $8,311,000. Finally, Allianz Asset Management GmbH raised its position in Medifast by 218.1% in the 1st quarter. Allianz Asset Management GmbH now owns 51,227 shares of the specialty retailer’s stock valued at $4,787,000 after buying an additional 35,124 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on MED shares. Zacks Investment Research lowered Medifast from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 25th. ValuEngine lowered Medifast from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Finally, DA Davidson boosted their price target on Medifast to $249.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd.
Medifast (NYSE:MED) last posted its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $1.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.14. The firm had revenue of $139.20 million for the quarter, compared to analyst estimates of $125.20 million. Medifast had a return on equity of 37.25% and a net margin of 10.87%. The business’s quarterly revenue was up 80.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. Sell-side analysts forecast that Medifast Inc will post 4.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Friday, September 21st will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, September 20th. Medifast’s dividend payout ratio (DPR) is 83.84%.
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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