Cambridge Investment Research Advisors Inc. Reduces Position in MEDIFAST INC (MED)
Cambridge Investment Research Advisors Inc. cut its position in shares of MEDIFAST INC (NYSE:MED) by 0.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,172 shares of the specialty retailer’s stock after selling 1 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in MEDIFAST INC were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MED. Wells Fargo & Company MN boosted its position in shares of MEDIFAST INC by 9.8% during the first quarter. Wells Fargo & Company MN now owns 92,211 shares of the specialty retailer’s stock valued at $4,092,000 after purchasing an additional 8,236 shares in the last quarter. American Century Companies Inc. boosted its holdings in MEDIFAST INC by 3.8% in the first quarter. American Century Companies Inc. now owns 144,520 shares of the specialty retailer’s stock worth $6,412,000 after acquiring an additional 5,256 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in MEDIFAST INC by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 218,378 shares of the specialty retailer’s stock worth $9,688,000 after acquiring an additional 3,975 shares in the last quarter. Comerica Bank boosted its holdings in MEDIFAST INC by 3.8% in the first quarter. Comerica Bank now owns 12,274 shares of the specialty retailer’s stock worth $569,000 after acquiring an additional 453 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in MEDIFAST INC in the first quarter worth $1,310,000. Institutional investors own 89.48% of the company’s stock.
Shares of MEDIFAST INC (NYSE MED) opened at 57.52 on Thursday. MEDIFAST INC has a 12-month low of $36.70 and a 12-month high of $58.64. The firm has a 50-day moving average price of $52.60 and a 200 day moving average price of $45.49. The company has a market capitalization of $686.21 million, a P/E ratio of 28.90 and a beta of 0.43.
MEDIFAST INC (NYSE:MED) last announced its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10. The business had revenue of $75.70 million for the quarter, compared to analysts’ expectations of $71.96 million. MEDIFAST INC had a return on equity of 24.25% and a net margin of 8.62%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $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 announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, September 21st. This represents a $1.28 annualized dividend and a yield of 2.23%. MEDIFAST INC’s dividend payout ratio (DPR) is presently 64.32%.
MED has been the topic of several analyst reports. DA Davidson initiated coverage on MEDIFAST INC in a report on Wednesday, August 16th. They issued a “buy” rating on the stock. BidaskClub raised MEDIFAST INC from a “sell” rating to a “hold” rating in a report on Saturday, August 19th.
MEDIFAST INC 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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