MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of Medifast Inc (NYSE:MED) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,041 shares of the specialty retailer’s stock after purchasing an additional 13,201 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd owned approximately 1.21% of Medifast worth $32,133,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in Medifast in the second quarter worth about $103,000. Meadow Creek Investment Management LLC purchased a new position in shares of Medifast during the 2nd quarter valued at about $110,000. Neuburgh Advisers LLC bought a new stake in Medifast during the 2nd quarter valued at approximately $152,000. Summit Trail Advisors LLC raised its stake in Medifast by 9,949.4% during the 1st quarter. Summit Trail Advisors LLC now owns 174,859 shares of the specialty retailer’s stock valued at $175,000 after purchasing an additional 173,119 shares during the period. Finally, Tyers Asset Management LLC bought a new stake in Medifast during the 2nd quarter valued at approximately $193,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
Shares of NYSE MED traded up $5.33 during trading hours on Friday, hitting $159.89. 410,565 shares of the company traded hands, compared to its average volume of 255,885. The company has a market cap of $1.83 billion, a P/E ratio of 39.21, a P/E/G ratio of 1.70 and a beta of 0.54. Medifast Inc has a 12 month low of $61.96 and a 12 month high of $260.98.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Friday, September 21st were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Thursday, September 20th. Medifast’s payout ratio is currently 83.84%.
A number of research firms have issued reports on MED. ValuEngine downgraded Medifast from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research downgraded Medifast from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 4th. DA Davidson boosted their target price on Medifast to $201.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Finally, Sidoti raised Medifast from a “neutral” rating to a “buy” rating in a research report on Thursday.
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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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