Medifast (NYSE:MED) posted its earnings results on Tuesday. The specialty retailer reported $1.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.14, Briefing.com reports. Medifast had a net margin of 10.87% and a return on equity of 37.25%. The business had revenue of $139.20 million for the quarter, compared to analyst estimates of $125.20 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 80.3% compared to the same quarter last year.
NYSE:MED traded down $61.57 during mid-day trading on Wednesday, reaching $153.31. 978,100 shares of the company were exchanged, compared to its average volume of 208,905. Medifast has a 12 month low of $61.96 and a 12 month high of $260.98. The firm has a market cap of $2.53 billion, a P/E ratio of 66.95, a P/E/G ratio of 2.35 and a beta of 0.54.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Friday, September 21st will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, September 20th. Medifast’s dividend payout ratio is currently 83.84%.
A number of large investors have recently modified their holdings of the business. Raymond James & Associates grew its holdings in Medifast by 13.2% during the 2nd quarter. Raymond James & Associates now owns 2,569 shares of the specialty retailer’s stock worth $411,000 after acquiring an additional 300 shares during the last quarter. Smith Asset Management Group LP boosted its stake in shares of Medifast by 3.2% in the 3rd quarter. Smith Asset Management Group LP now owns 9,574 shares of the specialty retailer’s stock valued at $2,121,000 after purchasing an additional 300 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Medifast by 4.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 7,827 shares of the specialty retailer’s stock valued at $1,254,000 after purchasing an additional 319 shares during the last quarter. Comerica Bank boosted its stake in shares of Medifast by 2.8% in the 3rd quarter. Comerica Bank now owns 11,564 shares of the specialty retailer’s stock valued at $2,395,000 after purchasing an additional 319 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Medifast by 2.9% in the 2nd quarter. New York State Teachers Retirement System now owns 11,811 shares of the specialty retailer’s stock valued at $1,892,000 after purchasing an additional 336 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.
MED has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Medifast from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 4th. DA Davidson increased their price objective on shares of Medifast to $249.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, ValuEngine raised shares of Medifast from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 4th.
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Medifast Company Profile
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.
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