Medifast Inc (NYSE:MED) issued its quarterly earnings results on Tuesday. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10, Bloomberg Earnings reports. The business had revenue of $75.70 million for the quarter, compared to the consensus estimate of $71.96 million. Medifast had a return on equity of 24.94% and a net margin of 7.23%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. Medifast updated its Q3 guidance to $0.48-$0.51 EPS and its FY17 guidance to $2.05-$2.15 EPS.

Shares of Medifast (NYSE MED) traded up 4.86% during trading on Tuesday, hitting $44.21. The stock had a trading volume of 135,683 shares. The stock’s 50 day moving average price is $41.67 and its 200-day moving average price is $43.10. The stock has a market cap of $527.29 million, a P/E ratio of 26.96 and a beta of 0.48. Medifast has a one year low of $34.86 and a one year high of $47.35.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 9th. Stockholders of record on Friday, June 23rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Wednesday, June 21st. Medifast’s payout ratio is presently 77.58%.

Large investors have recently made changes to their positions in the stock. Chicago Equity Partners LLC raised its stake in shares of Medifast by 0.3% in the first quarter. Chicago Equity Partners LLC now owns 17,370 shares of the specialty retailer’s stock worth $771,000 after buying an additional 50 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Medifast by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,173 shares of the specialty retailer’s stock worth $230,000 after buying an additional 91 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Medifast by 1.8% in the first quarter. Arizona State Retirement System now owns 5,813 shares of the specialty retailer’s stock worth $258,000 after buying an additional 100 shares during the last quarter. HL Financial Services LLC raised its stake in shares of Medifast by 1.5% in the first quarter. HL Financial Services LLC now owns 8,088 shares of the specialty retailer’s stock worth $359,000 after buying an additional 119 shares during the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Medifast by 1.5% in the second quarter. Texas Permanent School Fund now owns 8,185 shares of the specialty retailer’s stock worth $339,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

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Separately, Sidoti downgraded Medifast from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd.

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.

Earnings History for Medifast (NYSE:MED)

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