Medifast Inc. (MED) Sees Strong Trading Volume
Medifast Inc. (NYSE:MED) saw unusually-high trading volume on Friday . Approximately 233,796 shares were traded during 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.
MED has been the topic of a number of recent research reports. Zacks Investment Research lowered Medifast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 17th. Wunderlich upped 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 $435.89 million and a PE ratio of 25.82. The company has a 50-day moving average price of $34.80 and a 200 day moving average price of $32.06.
Medifast (NYSE:MED) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.12. The firm had revenue of $71.14 million for the quarter, compared to analyst estimates of $72.01 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Medifast Inc. will post $1.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 10th. Investors 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 of this dividend was Thursday, June 23rd.
In related news, major shareholder Balanced Master Fund L. Visium sold 1,350,000 shares of the business’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 transaction, the insider now directly owns 1,247,882 shares of the company’s stock, valued at $37,748,430.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
An institutional investor recently bought a new position in Medifast stock. Matarin Capital Management LLC acquired a new position in shares of Medifast Inc. (NYSE:MED) during the fourth quarter, according to its most recent filing with the SEC. The fund 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.