HL Financial Services LLC Has $2.74 Million Stake in Medifast Inc (MED)

HL Financial Services LLC grew its stake in Medifast Inc (NYSE:MED) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,344 shares of the specialty retailer’s stock after acquiring an additional 717 shares during the period. HL Financial Services LLC’s holdings in Medifast were worth $2,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MED. Centaurus Financial Inc. bought a new position in shares of Medifast in the 2nd quarter valued at about $103,000. Meadow Creek Investment Management LLC bought a new position in shares of Medifast in the 2nd quarter valued at about $110,000. Neuburgh Advisers LLC bought a new position in shares of Medifast in the 2nd quarter valued at about $152,000. Tyers Asset Management LLC bought a new position in shares of Medifast in the 2nd quarter valued at about $193,000. Finally, Jane Street Group LLC bought a new position in shares of Medifast in the 1st quarter valued at about $224,000. Institutional investors own 88.07% of the company’s stock.

Medifast stock opened at $154.56 on Friday. Medifast Inc has a 52 week low of $61.96 and a 52 week high of $260.98. The stock has a market cap of $2.57 billion, a P/E ratio of 67.49, a price-to-earnings-growth ratio of 2.39 and a beta of 0.54.

Medifast (NYSE:MED) last posted its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $1.14 EPS for the quarter, hitting analysts’ consensus estimates of $1.14. Medifast had a return on equity of 43.78% and a net margin of 10.95%. The business had revenue of $139.20 million during the quarter, compared to analysts’ expectations of $125.20 million. During the same quarter last year, the company posted $0.55 earnings per share. Medifast’s quarterly revenue was up 80.3% on a year-over-year basis. On average, analysts forecast that Medifast Inc will post 4.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Friday, September 21st were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, September 20th. Medifast’s payout ratio is currently 83.84%.

MED has been the subject of several analyst reports. DA Davidson raised their price objective on Medifast to $201.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Zacks Investment Research cut Medifast from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 25th. ValuEngine cut Medifast from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Sidoti upgraded Medifast from a “neutral” rating to a “buy” rating in a report on Thursday.

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About Medifast

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.

See Also: What is Liquidity?

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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