Medifast (NYSE:MED) – Equities research analysts at DA Davidson raised their Q1 2018 earnings per share (EPS) estimates for shares of Medifast in a research note issued on Wednesday, according to Zacks Investment Research. DA Davidson analyst L. Weiser now expects that the specialty retailer will post earnings of $0.86 per share for the quarter, up from their prior estimate of $0.61. DA Davidson currently has a “Buy” rating and a $108.00 price target on the stock. DA Davidson also issued estimates for Medifast’s Q2 2018 earnings at $0.92 EPS, FY2018 earnings at $3.25 EPS and FY2019 earnings at $4.00 EPS.
Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded Medifast from a “hold” rating to a “strong-buy” rating and set a $97.00 target price for the company in a research report on Saturday, March 10th. Sidoti upgraded Medifast from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, ValuEngine upgraded Medifast from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $86.67.
Shares of NYSE:MED traded down $1.52 during trading hours on Friday, hitting $91.93. 226,328 shares of the company’s stock traded hands, compared to its average volume of 145,936. Medifast has a 1 year low of $40.00 and a 1 year high of $94.60. The firm has a market capitalization of $1,115.20, a PE ratio of 40.81, a price-to-earnings-growth ratio of 1.92 and a beta of 0.26.
Medifast (NYSE:MED) last announced its earnings results on Tuesday, March 6th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.12. Medifast had a return on equity of 26.39% and a net margin of 9.19%. The business had revenue of $78.01 million during the quarter, compared to analyst estimates of $73.48 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 8th. Investors of record on Friday, March 30th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.09%. Medifast’s payout ratio is 83.84%.
In related news, Director Charles P. Connolly sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $89.31, for a total value of $669,825.00. Following the completion of the sale, the director now owns 40,342 shares in the company, valued at $3,602,944.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Macdonald sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $84.45, for a total value of $1,689,000.00. Following the completion of the sale, the director now owns 334,188 shares of the company’s stock, valued at approximately $28,222,176.60. The disclosure for this sale can be found here. Insiders sold 35,500 shares of company stock valued at $3,086,425 in the last quarter. 5.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MED. The Manufacturers Life Insurance Company lifted its holdings in shares of Medifast by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,352 shares of the specialty retailer’s stock valued at $346,000 after purchasing an additional 123 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Medifast by 5.1% in the second quarter. New York State Common Retirement Fund now owns 13,761 shares of the specialty retailer’s stock valued at $571,000 after buying an additional 667 shares during the last quarter. First Quadrant L P CA raised its position in shares of Medifast by 5.9% in the fourth quarter. First Quadrant L P CA now owns 12,388 shares of the specialty retailer’s stock valued at $865,000 after buying an additional 693 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Medifast by 6.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,541 shares of the specialty retailer’s stock valued at $945,000 after buying an additional 821 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Medifast by 13.4% in the fourth quarter. First Trust Advisors LP now owns 9,401 shares of the specialty retailer’s stock valued at $656,000 after buying an additional 1,108 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.
Medifast, Inc, through its subsidiaries, produces, distributes, and sells weight loss, weight management, healthy living products, and other consumable health and nutritional products. The company 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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