Russell Investments Group Ltd. Has $4.24 Million Stock Holdings in Medifast Inc (NYSE:MED)

Russell Investments Group Ltd. cut its position in Medifast Inc (NYSE:MED) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,600 shares of the specialty retailer’s stock after selling 133 shares during the period. Russell Investments Group Ltd. owned 0.35% of Medifast worth $4,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in shares of Medifast by 4.4% in the 2nd quarter. HighTower Advisors LLC now owns 2,339 shares of the specialty retailer’s stock valued at $299,000 after buying an additional 99 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Medifast by 2.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,735 shares of the specialty retailer’s stock valued at $608,000 after buying an additional 100 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Medifast by 1.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,760 shares of the specialty retailer’s stock valued at $867,000 after buying an additional 108 shares during the period. Arizona State Retirement System grew its stake in shares of Medifast by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 18,456 shares of the specialty retailer’s stock valued at $2,368,000 after buying an additional 145 shares during the period. Finally, Ingalls & Snyder LLC grew its stake in shares of Medifast by 0.3% in the 3rd quarter. Ingalls & Snyder LLC now owns 58,348 shares of the specialty retailer’s stock valued at $6,047,000 after buying an additional 165 shares during the period. Institutional investors own 98.06% of the company’s stock.

Several analysts have recently commented on MED shares. ValuEngine downgraded Medifast from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Dougherty & Co downgraded Medifast from a “buy” rating to a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group assumed coverage on Medifast in a research note on Thursday, July 25th. They issued a “buy” rating and a $130.00 target price for the company. Zacks Investment Research downgraded Medifast from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, DA Davidson downgraded Medifast from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $74.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Medifast currently has an average rating of “Hold” and a consensus price target of $134.00.

MED stock opened at $81.04 on Tuesday. The company has a market capitalization of $889.85 million, a P/E ratio of 17.54 and a beta of 0.71. Medifast Inc has a 52-week low of $66.50 and a 52-week high of $159.77. The business has a 50-day simple moving average of $98.75 and a two-hundred day simple moving average of $114.55.

Medifast (NYSE:MED) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). The company had revenue of $190.10 million for the quarter, compared to analyst estimates of $194.70 million. Medifast had a net margin of 10.70% and a return on equity of 62.93%. Medifast’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. Equities research analysts expect that Medifast Inc will post 5.84 earnings per share for the current year.

The business also recently declared a — dividend, which was paid on Thursday, November 7th. Shareholders of record on Friday, September 27th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a yield of 2.8%. Medifast’s dividend payout ratio (DPR) is currently 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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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