Medifast Inc. (MED) Sees Strong Trading Volume
Medifast Inc. (NYSE:MED) saw an uptick in trading volume on Friday . 233,796 shares were traded during mid-day trading, an increase of 188% from the previous session’s volume of 81,105 shares.The stock last traded at $36.79 and had previously closed at $36.79.
Several research firms have recently commented on MED. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Thursday, August 11th. Wunderlich boosted their target price on shares of Medifast from $32.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, August 4th.
The firm has a market cap of $435.89 million and a P/E ratio of 25.82. The stock’s 50 day moving average price is $34.80 and its 200-day moving average price is $32.06.
Medifast (NYSE:MED) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $71.14 million for the quarter, compared to analysts’ expectations of $72.01 million. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. On average, analysts forecast 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. Shareholders of record on Monday, June 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Thursday, June 23rd.
In other Medifast news, major shareholder Balanced Master Fund L. Visium sold 1,350,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $30.25, for a total transaction of $40,837,500.00. Following the completion of the transaction, the insider now directly owns 1,247,882 shares of the company’s stock, valued at approximately $37,748,430.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A hedge fund recently bought a new stake in Medifast stock. Matarin Capital Management LLC acquired a new position in Medifast Inc. (NYSE:MED) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 62,747 shares of the company’s stock, valued at approximately $1,906,000. Matarin Capital Management LLC owned 0.53% of Medifast as of its most recent SEC filing.
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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