Zacks Investment Management Takes Position in Medifast Inc (MED)

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Zacks Investment Management acquired a new stake in shares of Medifast Inc (NYSE:MED) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,663 shares of the specialty retailer’s stock, valued at approximately $1,548,000.

Several other large investors also recently made changes to their positions in the stock. Meadow Creek Investment Management LLC bought a new position in Medifast in the 2nd quarter worth approximately $110,000. SG Americas Securities LLC bought a new position in Medifast in the 1st quarter worth approximately $125,000. Neuburgh Advisers LLC bought a new position in Medifast in the 2nd quarter worth approximately $152,000. Summit Trail Advisors LLC boosted its stake in Medifast by 9,949.4% in the 1st quarter. Summit Trail Advisors LLC now owns 174,859 shares of the specialty retailer’s stock worth $175,000 after purchasing an additional 173,119 shares during the period. Finally, Tyers Asset Management LLC bought a new position in Medifast in the 2nd quarter worth approximately $193,000. Institutional investors own 88.55% of the company’s stock.

NYSE MED opened at $248.98 on Friday. The company has a market cap of $3.06 billion, a PE ratio of 77.09, a PEG ratio of 2.84 and a beta of 0.31. Medifast Inc has a one year low of $55.20 and a one year high of $260.98.

Medifast (NYSE:MED) last posted its earnings results on Thursday, August 2nd. The specialty retailer reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $117.30 million during the quarter, compared to the consensus estimate of $101.75 million. Medifast had a return on equity of 37.25% and a net margin of 10.87%. The company’s quarterly revenue was up 55.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. sell-side analysts predict that Medifast Inc will post 4.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Friday, September 21st will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.77%. Medifast’s dividend payout ratio is currently 83.84%.

MED has been the subject of several recent analyst reports. Zacks Investment Research downgraded Medifast from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 25th. DA Davidson upped their price target on Medifast to $249.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, ValuEngine upgraded Medifast from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th.

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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