MEDIFAST INC (MED) Stake Boosted by Sei Investments Co.
Sei Investments Co. raised its holdings in shares of MEDIFAST INC (NYSE:MED) by 95.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,922 shares of the specialty retailer’s stock after purchasing an additional 1,920 shares during the period. Sei Investments Co.’s holdings in MEDIFAST INC were worth $163,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of MED. Seizert Capital Partners LLC acquired a new position in shares of MEDIFAST INC during the first quarter worth $3,716,000. LSV Asset Management increased its position in shares of MEDIFAST INC by 235.2% during the first quarter. LSV Asset Management now owns 73,066 shares of the specialty retailer’s stock worth $3,241,000 after purchasing an additional 51,266 shares in the last quarter. Bank of America Corp DE increased its position in shares of MEDIFAST INC by 501.5% during the first quarter. Bank of America Corp DE now owns 51,353 shares of the specialty retailer’s stock worth $2,278,000 after purchasing an additional 42,815 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of MEDIFAST INC during the first quarter worth $1,310,000. Finally, Vanguard Group Inc. increased its position in shares of MEDIFAST INC by 3.7% during the first quarter. Vanguard Group Inc. now owns 643,272 shares of the specialty retailer’s stock worth $28,542,000 after purchasing an additional 22,740 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of MEDIFAST INC (MED) opened at 55.43 on Tuesday. MEDIFAST INC has a one year low of $36.13 and a one year high of $56.70. The stock’s 50 day moving average is $50.17 and its 200-day moving average is $44.95. The stock has a market capitalization of $661.28 million, a price-to-earnings ratio of 27.85 and a beta of 0.43.
MEDIFAST INC (NYSE:MED) last announced its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.10. MEDIFAST INC had a net margin of 8.62% and a return on equity of 24.25%. The firm had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. During the same period last year, the business earned $0.63 EPS. MEDIFAST INC’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that MEDIFAST INC will post $2.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 22nd will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, September 21st. This represents a $1.28 annualized dividend and a yield of 2.31%. MEDIFAST INC’s dividend payout ratio is currently 64.32%.
A number of equities analysts have recently issued reports on the company. BidaskClub raised MEDIFAST INC from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. DA Davidson assumed coverage on MEDIFAST INC in a research report on Wednesday, August 16th. They set a “buy” rating on the stock.
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MEDIFAST INC Profile
Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.
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