Systematic Financial Management LP acquired a new stake in Medifast Inc (NYSE:MED) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 735 shares of the specialty retailer’s stock, valued at approximately $94,000.

Other hedge funds have also made changes to their positions in the company. Jane Street Group LLC bought a new position in Medifast in the 4th quarter worth $221,000. Macquarie Group Ltd. boosted its holdings in Medifast by 41.8% in the 4th quarter. Macquarie Group Ltd. now owns 339 shares of the specialty retailer’s stock worth $42,000 after buying an additional 100 shares during the period. Amalgamated Bank bought a new position in Medifast in the 4th quarter worth $234,000. Norges Bank bought a new position in Medifast in the 4th quarter worth $10,153,000. Finally, Geode Capital Management LLC boosted its holdings in Medifast by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 166,518 shares of the specialty retailer’s stock worth $20,817,000 after buying an additional 10,925 shares during the period. Hedge funds and other institutional investors own 98.18% of the company’s stock.

Shares of NYSE MED opened at $104.09 on Wednesday. The firm’s 50-day simple moving average is $114.21. The stock has a market cap of $1.20 billion, a PE ratio of 22.53 and a beta of 0.71. Medifast Inc has a 12-month low of $96.40 and a 12-month high of $260.98.

Medifast (NYSE:MED) last announced its earnings results on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. The firm had revenue of $187.10 million for the quarter, compared to analysts’ expectations of $181.74 million. Medifast had a net margin of 11.22% and a return on equity of 61.06%. The business’s revenue was up 59.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. On average, equities research analysts predict that Medifast Inc will post 6.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Friday, June 28th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.88%. Medifast’s dividend payout ratio is presently 64.94%.

Several analysts have commented on MED shares. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research note on Tuesday, August 6th. ValuEngine cut shares of Medifast from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group started coverage on shares of Medifast in a research note on Thursday, July 25th. They issued a “buy” rating and a $130.00 price target on the stock.

Medifast 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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