Medifast (NYSE:MED) Reaches New 1-Year Low at $106.14

Medifast Inc (NYSE:MED)’s stock price hit a new 52-week low on Friday . The company traded as low as $106.14 and last traded at $106.14, with a volume of 60606 shares. The stock had previously closed at $111.17.

A number of equities analysts recently weighed in on MED shares. ValuEngine downgraded shares of Medifast from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Zacks Investment Research downgraded shares of Medifast from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group started coverage on shares of Medifast in a report on Thursday, July 25th. They issued a “buy” rating and a $130.00 price target on the stock.

The company has a fifty day moving average price of $120.95. The company has a market capitalization of $1.32 billion, a P/E ratio of 22.34 and a beta of 0.71.

Medifast (NYSE:MED) last released its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04. The business had revenue of $187.10 million for the quarter, compared to the consensus estimate of $181.74 million. Medifast had a net margin of 11.22% and a return on equity of 62.63%. The company’s revenue was up 59.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, analysts predict that Medifast Inc will post 6.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, June 27th. Medifast’s dividend payout ratio (DPR) is presently 64.94%.

In other Medifast news, Director Carl E. Sassano sold 850 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $143.94, for a total transaction of $122,349.00. Following the sale, the director now directly owns 17,792 shares of the company’s stock, valued at $2,560,980.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in Medifast by 202.1% in the 4th quarter. Bank of America Corp DE now owns 71,566 shares of the specialty retailer’s stock worth $8,947,000 after acquiring an additional 47,878 shares during the period. Metropolitan Life Insurance Co. NY raised its holdings in Medifast by 356.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,793 shares of the specialty retailer’s stock worth $474,000 after acquiring an additional 2,962 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Medifast in the 4th quarter worth $433,000. Jane Street Group LLC bought a new position in Medifast in the 4th quarter worth $221,000. Finally, Thrivent Financial for Lutherans raised its holdings in Medifast by 3.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 8,438 shares of the specialty retailer’s stock worth $1,055,000 after acquiring an additional 293 shares during the period. 98.36% of the stock is currently owned by institutional investors and hedge funds.

Medifast Company Profile (NYSE:MED)

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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