MERIAN GLOBAL INVESTORS UK Ltd Raises Holdings in Medifast Inc (NYSE:MED)

Share on StockTwits

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.

Medifast (NYSE:MED) last released its earnings results on Tuesday, November 6th. The specialty retailer reported $1.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.14. Medifast had a return on equity of 43.45% and a net margin of 10.95%. The firm had revenue of $139.20 million for the quarter, compared to the consensus estimate of $125.20 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 80.3% compared to the same quarter last year. On average, research analysts expect that Medifast Inc will post 4.5 EPS for the current fiscal year.

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.

TRADEMARK VIOLATION WARNING: “MERIAN GLOBAL INVESTORS UK Ltd Raises Holdings in Medifast Inc (NYSE:MED)” was first reported by BBNS and is the sole property of of BBNS. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://baseballnewssource.com/2018/11/10/merian-global-investors-uk-ltd-boosts-holdings-in-medifast-inc-med/2847013.html.

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.

Read More: Hedge Funds

Institutional Ownership by Quarter for Medifast (NYSE:MED)

Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.