Medifast Inc (NYSE:MED) – Equities researchers at DA Davidson raised their Q1 2018 earnings per share estimates for shares of Medifast in a research report issued on Thursday. DA Davidson analyst L. Weiser now forecasts that the specialty retailer will post earnings of $0.61 per share for the quarter, up from their prior estimate of $0.60. DA Davidson currently has a “Buy” rating and a $89.00 price target on the stock. DA Davidson also issued estimates for Medifast’s Q3 2018 earnings at $0.67 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.26 EPS.

Medifast (NYSE:MED) last announced its earnings results on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.04. The company had revenue of $77.20 million during the quarter, compared to the consensus estimate of $74.94 million. Medifast had a net margin of 8.58% and a return on equity of 24.07%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share.

Several other research firms have also weighed in on MED. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Friday, November 10th. ValuEngine lowered shares of Medifast from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Sidoti restated a “neutral” rating and set a $55.00 price target (up previously from $49.00) on shares of Medifast in a research report on Thursday, September 21st. Finally, BidaskClub upgraded shares of Medifast from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $74.33.

Medifast (NYSE MED) opened at $72.88 on Monday. The firm has a market cap of $869.72, a PE ratio of 35.90, a P/E/G ratio of 2.24 and a beta of 0.51. Medifast has a 1 year low of $39.97 and a 1 year high of $73.60.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Friday, December 22nd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, December 21st. This is a positive change from Medifast’s previous quarterly dividend of $0.32. Medifast’s dividend payout ratio (DPR) is currently 62.75%.

In other news, Director Glenn W. Welling sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $65.00, for a total value of $16,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenn W. Welling sold 275,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $64.60, for a total transaction of $17,765,000.00. The disclosure for this sale can be found here. Insiders have sold 550,000 shares of company stock valued at $34,019,500 in the last quarter. Company insiders own 6.47% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in Medifast by 248.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock valued at $140,000 after purchasing an additional 1,678 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Medifast in the second quarter valued at approximately $108,000. Sei Investments Co. raised its stake in Medifast by 95.9% in the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock valued at $163,000 after purchasing an additional 1,920 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Medifast by 86.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock valued at $174,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in Medifast in the third quarter valued at approximately $267,000. Institutional investors own 86.91% of the company’s stock.

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Medifast Company Profile

Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.

Earnings History and Estimates for Medifast (NYSE:MED)

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