Comerica Bank Has $488,000 Position in MEDIFAST INC (MED)
Comerica Bank lowered its position in shares of MEDIFAST INC (NYSE:MED) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,616 shares of the specialty retailer’s stock after selling 658 shares during the period. Comerica Bank owned approximately 0.10% of MEDIFAST INC worth $488,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in MEDIFAST INC by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,173 shares of the specialty retailer’s stock worth $230,000 after purchasing an additional 91 shares during the last quarter. Arizona State Retirement System boosted its holdings in MEDIFAST INC by 1.8% in the first quarter. Arizona State Retirement System now owns 5,813 shares of the specialty retailer’s stock worth $258,000 after purchasing an additional 100 shares during the last quarter. Texas Permanent School Fund boosted its holdings in MEDIFAST INC by 1.5% in the second quarter. Texas Permanent School Fund now owns 8,185 shares of the specialty retailer’s stock worth $339,000 after purchasing an additional 122 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in MEDIFAST INC by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,604 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 170 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in MEDIFAST INC by 3.5% in the first quarter. Thrivent Financial For Lutherans now owns 6,180 shares of the specialty retailer’s stock worth $274,000 after purchasing an additional 210 shares during the last quarter. 89.48% of the stock is owned by institutional investors.
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MED has been the topic of several research reports. BidaskClub upgraded shares of MEDIFAST INC from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. DA Davidson initiated coverage on shares of MEDIFAST INC in a report on Wednesday, August 16th. They issued a “buy” rating on the stock. Finally, Sidoti restated a “neutral” rating and issued a $55.00 target price (up previously from $49.00) on shares of MEDIFAST INC in a report on Thursday.
Shares of MEDIFAST INC (NYSE MED) opened at 56.35 on Monday. MEDIFAST INC has a one year low of $36.70 and a one year high of $58.64. The stock has a market cap of $672.26 million, a PE ratio of 28.32 and a beta of 0.43. The company has a 50-day moving average of $52.60 and a 200 day moving average of $45.49.
MEDIFAST INC (NYSE:MED) last issued its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. During the same quarter in the prior year, the business posted $0.63 EPS. MEDIFAST INC’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts predict that MEDIFAST INC will post $2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 22nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.27%. MEDIFAST INC’s payout ratio is currently 64.32%.
MEDIFAST INC Company 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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