50,720 Shares in Medifast Inc. (MED) Acquired by Emerald Acquisition Ltd.
Emerald Acquisition Ltd. bought a new position in shares of Medifast Inc. (NYSE:MED) during the second quarter, Holdings Channel reports. The fund bought 50,720 shares of the company’s stock, valued at approximately $1,688,000. Emerald Acquisition Ltd. owned approximately 0.43% of Medifast as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MED. BNP Paribas Arbitrage SA boosted its stake in shares of Medifast by 98.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,087 shares of the company’s stock worth $103,000 after buying an additional 1,534 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Medifast by 2.2% in the second quarter. Eqis Capital Management Inc. now owns 15,438 shares of the company’s stock worth $514,000 after buying an additional 337 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Medifast during the second quarter worth approximately $652,000. Aperio Group LLC boosted its stake in shares of Medifast by 3.1% in the first quarter. Aperio Group LLC now owns 22,292 shares of the company’s stock worth $673,000 after buying an additional 665 shares in the last quarter. Finally, AXA boosted its stake in shares of Medifast by 47.3% in the first quarter. AXA now owns 35,800 shares of the company’s stock worth $1,081,000 after buying an additional 11,500 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.
Shares of Medifast Inc. (NYSE:MED) traded up 0.82% during mid-day trading on Monday, hitting $38.10. 47,078 shares of the stock were exchanged. The stock’s 50-day moving average price is $36.99 and its 200-day moving average price is $33.63. The company has a market cap of $451.41 million, a P/E ratio of 26.74 and a beta of 0.65. Medifast Inc. has a 52-week low of $27.12 and a 52-week high of $39.16.
Medifast (NYSE:MED) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Medifast had a net margin of 6.29% and a return on equity of 24.46%. The business had revenue of $71.14 million for the quarter, compared to analysts’ expectations of $72.01 million. During the same period last year, the business earned $0.53 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Medifast Inc. will post $1.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 23rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, September 21st. Medifast’s dividend payout ratio is currently 69.44%.
A number of brokerages have commented on MED. Wunderlich upped their target price on shares of Medifast from $32.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, August 4th. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Thursday, August 11th.
Medifast Company Profile
Medifast, Inc (Medifast) is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and diet products. The Company operates through its 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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