BidaskClub upgraded shares of Medifast Inc (NYSE:MED) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other analysts have also recently weighed in on the stock. DA Davidson began coverage on shares of Medifast in a report on Wednesday, August 16th. They set a buy rating on the stock. Sidoti lowered shares of Medifast from a buy rating to a neutral rating in a research report on Tuesday, May 2nd.

Shares of Medifast (NYSE MED) opened at 55.63 on Friday. The stock has a market capitalization of $663.67 million, a P/E ratio of 27.95 and a beta of 0.48. The stock has a 50 day moving average of $44.54 and a 200 day moving average of $43.85. Medifast has a 12-month low of $35.55 and a 12-month high of $56.49.

Medifast (NYSE:MED) last released its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Medifast had a net margin of 8.62% and a return on equity of 24.25%. The company had revenue of $75.70 million for the quarter, compared to analysts’ expectations of $71.96 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Medifast will post $2.12 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Friday, June 23rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.30%. Medifast’s dividend payout ratio (DPR) is presently 64.32%.

Institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC raised its position in shares of Medifast 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 buying an additional 170 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of Medifast during the second quarter worth about $108,000. Sei Investments Co. raised its position in shares of Medifast by 95.9% in the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock worth $163,000 after buying an additional 1,920 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Medifast during the first quarter worth about $179,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Medifast by 86.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock worth $174,000 after buying an additional 1,939 shares during the period. Institutional investors and hedge funds own 92.09% of the company’s stock.

Medifast 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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