Marshall Wace North America L.P. increased its stake in shares of MEDIFAST INC (NYSE:MED) by 356.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 103,812 shares of the specialty retailer’s stock after buying an additional 81,075 shares during the period. Marshall Wace North America L.P. owned approximately 0.87% of MEDIFAST INC worth $4,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mason Street Advisors LLC boosted its position in shares of MEDIFAST INC by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,604 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 170 shares during the period. Sei Investments Co. boosted its position in shares of MEDIFAST INC by 95.9% in the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 1,920 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of MEDIFAST INC by 86.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock valued at $174,000 after buying an additional 1,939 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in shares of MEDIFAST INC during the first quarter valued at approximately $179,000. Finally, Meeder Asset Management Inc. bought a new position in shares of MEDIFAST INC during the second quarter valued at approximately $203,000. 89.48% of the stock is owned by hedge funds and other institutional investors.

Shares of MEDIFAST INC (NYSE:MED) opened at 55.53 on Thursday. MEDIFAST INC has a 1-year low of $35.55 and a 1-year high of $56.49. The company has a market cap of $662.47 million, a price-to-earnings ratio of 27.90 and a beta of 0.48. The firm has a 50-day moving average price of $46.05 and a 200 day moving average price of $44.21.

MEDIFAST INC (NYSE:MED) last issued its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.10. MEDIFAST INC had a net margin of 8.62% and a return on equity of 24.25%. The company had revenue of $75.70 million for the quarter, compared to analysts’ expectations of $71.96 million. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that MEDIFAST INC will post $2.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Friday, June 23rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, June 21st. MEDIFAST INC’s dividend payout ratio is currently 64.32%.

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Several research analysts recently commented on MED shares. DA Davidson started coverage on MEDIFAST INC in a research report on Wednesday, August 16th. They set a “buy” rating for the company. BidaskClub raised MEDIFAST INC from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th.

MEDIFAST INC Company Profile

Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.

Institutional Ownership by Quarter for MEDIFAST INC (NYSE:MED)

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