O Shaughnessy Asset Management LLC Reduces Position in Medifast Inc (MED)

O Shaughnessy Asset Management LLC cut its position in shares of Medifast Inc (NYSE:MED) by 24.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,843 shares of the specialty retailer’s stock after selling 26,456 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.68% of Medifast worth $18,091,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new position in Medifast during the third quarter valued at approximately $354,000. WINTON GROUP Ltd raised its position in Medifast by 2.2% during the third quarter. WINTON GROUP Ltd now owns 98,915 shares of the specialty retailer’s stock valued at $21,915,000 after purchasing an additional 2,105 shares during the period. HL Financial Services LLC raised its position in Medifast by 6.2% during the third quarter. HL Financial Services LLC now owns 12,344 shares of the specialty retailer’s stock valued at $2,735,000 after purchasing an additional 717 shares during the period. Smith Asset Management Group LP raised its position in Medifast by 3.2% during the third quarter. Smith Asset Management Group LP now owns 9,574 shares of the specialty retailer’s stock valued at $2,121,000 after purchasing an additional 300 shares during the period. Finally, Comerica Bank raised its position in Medifast by 2.8% during the third quarter. Comerica Bank now owns 11,564 shares of the specialty retailer’s stock valued at $2,395,000 after purchasing an additional 319 shares during the period. 88.07% of the stock is owned by institutional investors.

Shares of MED stock opened at $159.89 on Friday. Medifast Inc has a 1 year low of $61.96 and a 1 year high of $260.98. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 39.21, a P/E/G ratio of 1.70 and a beta of 0.54.

Medifast (NYSE:MED) last issued its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.14. Medifast had a return on equity of 43.45% and a net margin of 10.95%. The business had revenue of $139.20 million for the quarter, compared to the consensus estimate of $125.20 million. During the same period in the prior year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 80.3% compared to the same quarter last year. As a group, equities research analysts predict that Medifast Inc will post 4.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Friday, September 21st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.20%. Medifast’s dividend payout ratio (DPR) is presently 83.84%.

MED has been the topic of a number of recent research reports. DA Davidson upped their price objective on Medifast to $201.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Zacks Investment Research downgraded Medifast from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 25th. ValuEngine downgraded Medifast from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Finally, Sidoti upgraded 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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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