Medifast Inc. (MED) Reaches New 12-Month High at $36.70
Medifast Inc. (NYSE:MED) shares reached a new 52-week high on Thursday . The stock traded as high as $36.70 and last traded at $36.57, with a volume of 16,924 shares trading hands. The stock had previously closed at $36.29.
Several research analysts recently weighed in on MED shares. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, August 11th. Wunderlich upped their price target on Medifast from $32.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, August 4th.
The stock has a market cap of $434.17 million and a P/E ratio of 25.716. The firm has a 50-day moving average of $34.57 and a 200 day moving average of $31.97.
Medifast (NYSE:MED) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.12. During the same quarter in the previous year, the business posted $0.53 earnings per share. The firm earned $71.14 million during the quarter, compared to the consensus estimate of $72.01 million. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Medifast Inc. will post $1.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 10th. Stockholders of record on Monday, June 27th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, June 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.76%.
In other news, major shareholder Balanced Master Fund L. Visium sold 1,350,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $30.25, for a total value of $40,837,500.00. Following the transaction, the insider now directly owns 1,247,882 shares in the company, valued at approximately $37,748,430.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A hedge fund recently bought a new stake 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 Form 13F 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 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.