Medifast Inc. (MED) Sets New 12-Month High at $35.87
Medifast Inc. (NYSE:MED) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $35.87 and last traded at $35.54, with a volume of 42,339 shares traded. The stock had previously closed at $35.53.
Several research analysts recently issued reports on MED shares. Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday. Wunderlich lifted their price objective on Medifast from $32.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, August 4th.
The stock has a market capitalization of $422.35 million and a PE ratio of 25.02. The company has a 50 day moving average of $34.09 and a 200-day moving average of $31.73.
Medifast (NYSE:MED) last posted its earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.51 by $0.12. The firm earned $71.14 million during the quarter, compared to the consensus estimate of $72.01 million. Medifast’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. Equities analysts anticipate that Medifast Inc. will post $1.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 10th. Shareholders of record on Monday, June 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, June 23rd.
In other Medifast news, major shareholder Balanced Master Fund L. Visium sold 1,350,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $30.25, for a total value of $40,837,500.00. Following the completion of the transaction, the insider now owns 1,247,882 shares in the company, valued at approximately $37,748,430.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
An institutional investor recently bought a new position in Medifast stock. Matarin Capital Management LLC acquired a new stake in shares of Medifast Inc. (NYSE:MED) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,747 shares of the company’s stock, valued at approximately $1,906,000. Matarin Capital Management LLC owned about 0.53% of Medifast at the end of the most recent quarter.
Medifast, Inc (Medifast) is engaged in the production, distribution, and sale of weight loss and weight management products and other consumable health and diet products. The Company’s operations are primarily conducted through its wholly owned subsidiaries, Jason Pharmaceuticals, Inc, Take Shape For Life, Inc, Jason Enterprises, Inc, Medifast Franchise Systems (MFSI), Inc, Jason Properties, LLC, Medifast Nutrition, Inc and Seven Crondall, LLC.
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