Medifast Inc. (MED) Hits New 12-Month High at $35.87
Medifast Inc. (NYSE:MED)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $35.87 and last traded at $35.54, with a volume of 42,339 shares trading hands. The stock had previously closed at $35.53.
MED has been the topic of several research reports. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday. Wunderlich upped their target price on Medifast from $32.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, August 4th.
The company has a market capitalization of $423.80 million and a price-to-earnings ratio of 25.10. The stock’s 50 day moving average is $34.17 and its 200 day moving average is $31.78.
Medifast (NYSE:MED) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. The business earned $71.14 million during the quarter, compared to the consensus estimate of $72.01 million. During the same period in the previous year, the business posted $0.53 EPS. Medifast’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts predict that Medifast Inc. will post $1.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Monday, June 27th were given a $0.25 dividend. The ex-dividend date was Thursday, June 23rd. This represents a $1.00 annualized dividend and a yield of 2.80%.
In related news, major shareholder Balanced Master Fund L. Visium sold 1,350,000 shares of the firm’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 transaction, the insider now owns 1,247,882 shares of the company’s stock, valued at approximately $37,748,430.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
An institutional investor recently bought a new position in Medifast stock. Matarin Capital Management LLC bought a new stake in Medifast Inc. (NYSE:MED) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 62,747 shares of the company’s stock, valued at approximately $1,906,000. Matarin Capital Management LLC owned approximately 0.53% of Medifast at the end of the most recent reporting period.
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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