MEDIFAST INC (MED) Position Raised by Systematic Financial Management LP
Systematic Financial Management LP increased its holdings in shares of MEDIFAST INC (NYSE:MED) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,688 shares of the specialty retailer’s stock after purchasing an additional 945 shares during the period. Systematic Financial Management LP owned approximately 0.32% of MEDIFAST INC worth $1,563,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mason Street Advisors LLC grew its stake in MEDIFAST INC by 7.0% during the first quarter. Mason Street Advisors LLC now owns 2,604 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 170 shares during the period. Sei Investments Co. grew its stake in MEDIFAST INC by 95.9% during the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock worth $163,000 after purchasing an additional 1,920 shares during the period. BNP Paribas Arbitrage SA grew its stake in MEDIFAST INC by 86.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock worth $174,000 after purchasing an additional 1,939 shares during the period. Meeder Asset Management Inc. acquired a new stake in MEDIFAST INC during the second quarter worth approximately $203,000. Finally, OppenheimerFunds Inc. acquired a new stake in MEDIFAST INC during the first quarter worth approximately $218,000. 89.48% of the stock is owned by institutional investors and hedge funds.
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Shares of MEDIFAST INC (NYSE MED) opened at 56.48 on Monday. The firm has a market cap of $673.81 million, a PE ratio of 28.38 and a beta of 0.43. The firm has a 50-day moving average price of $51.74 and a 200-day moving average price of $45.32. MEDIFAST INC has a 52 week low of $36.41 and a 52 week high of $56.73.
MEDIFAST INC (NYSE:MED) last posted its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10. The company had revenue of $75.70 million for the quarter, compared to the consensus estimate of $71.96 million. MEDIFAST INC had a return on equity of 24.25% and a net margin of 8.62%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. On average, equities research analysts predict that MEDIFAST INC will post $2.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 22nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $1.28 annualized dividend and a dividend yield of 2.27%. MEDIFAST INC’s payout ratio is currently 64.32%.
Several equities research analysts recently commented on the company. BidaskClub raised MEDIFAST INC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. DA Davidson raised their target price on MEDIFAST INC from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday.
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.
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