MEDIFAST INC (MED) Holdings Reduced by Prudential Financial Inc.
Prudential Financial Inc. decreased its holdings in MEDIFAST INC (NYSE:MED) by 51.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,707 shares of the specialty retailer’s stock after selling 21,874 shares during the quarter. Prudential Financial Inc. owned approximately 0.17% of MEDIFAST INC worth $858,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace North America L.P. grew its holdings in MEDIFAST INC by 356.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 103,812 shares of the specialty retailer’s stock valued at $4,256,000 after buying an additional 81,075 shares during the period. Victory Capital Management Inc. purchased a new stake in MEDIFAST INC in the 1st quarter valued at about $859,000. Schwab Charles Investment Management Inc. grew its holdings in MEDIFAST INC by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,743 shares of the specialty retailer’s stock valued at $1,897,000 after buying an additional 2,223 shares during the period. Comerica Bank grew its holdings in MEDIFAST INC by 3.8% in the 1st quarter. Comerica Bank now owns 12,274 shares of the specialty retailer’s stock valued at $569,000 after buying an additional 453 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in MEDIFAST INC by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 91,677 shares of the specialty retailer’s stock valued at $4,068,000 after buying an additional 2,976 shares during the period. Institutional investors own 89.48% of the company’s stock.
MED has been the subject of several recent analyst reports. DA Davidson initiated coverage on MEDIFAST INC in a report on Wednesday, August 16th. They issued a “buy” rating for the company. BidaskClub upgraded MEDIFAST INC from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Sidoti reiterated a “neutral” rating and set a $55.00 target price (up previously from $49.00) on shares of MEDIFAST INC in a report on Thursday, September 21st.
Shares of MEDIFAST INC (MED) opened at 60.30 on Friday. The stock has a market cap of $719.38 million, a PE ratio of 30.30 and a beta of 0.46. The stock’s 50 day moving average price is $56.81 and its 200-day moving average price is $46.89. MEDIFAST INC has a one year low of $36.70 and a one year high of $61.31.
MEDIFAST INC (NYSE:MED) last issued its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10. MEDIFAST INC had a return on equity of 24.25% and a net margin of 8.62%. The company had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. During the same period in the prior year, the firm posted $0.63 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that MEDIFAST INC will post $2.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 22nd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, September 21st. 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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