Allianz Asset Management GmbH reduced its position in shares of Medifast Inc (NYSE:MED) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,311 shares of the specialty retailer’s stock after selling 5,084 shares during the quarter. Allianz Asset Management GmbH owned 0.68% of Medifast worth $18,015,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of MED. Centaurus Financial Inc. purchased a new position in Medifast in the 2nd quarter valued at about $103,000. Meadow Creek Investment Management LLC purchased a new position in Medifast in the 2nd quarter valued at about $110,000. Neuburgh Advisers LLC purchased a new position in Medifast in the 2nd quarter valued at about $152,000. Tyers Asset Management LLC purchased a new position in Medifast in the 2nd quarter valued at about $193,000. Finally, Stevens Capital Management LP purchased a new position in Medifast in the 3rd quarter valued at about $216,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Medifast stock opened at $138.90 on Friday. Medifast Inc has a twelve month low of $61.96 and a twelve month high of $260.98. The stock has a market capitalization of $1.75 billion, a P/E ratio of 60.66, a P/E/G ratio of 1.62 and a beta of 0.42.
Medifast (NYSE:MED) last released its earnings results on Tuesday, November 6th. The specialty retailer reported $1.14 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.14. Medifast had a net margin of 10.95% and a return on equity of 43.45%. The business had revenue of $139.20 million for the quarter, compared to analyst estimates of $125.20 million. During the same period last year, the company posted $0.55 EPS. The business’s revenue was up 80.3% on a year-over-year basis. As a group, equities analysts anticipate that Medifast Inc will post 4.5 earnings per share for the current fiscal year.
In other Medifast news, Director Constance J. Hallquist sold 1,343 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $160.12, for a total value of $215,041.16. Following the transaction, the director now directly owns 6,030 shares of the company’s stock, valued at approximately $965,523.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Hoer bought 200 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was acquired at an average cost of $156.23 per share, for a total transaction of $31,246.00. Following the completion of the purchase, the director now directly owns 600 shares in the company, valued at $93,738. The disclosure for this purchase can be found here. Company insiders own 4.30% of the company’s stock.
A number of research analysts recently weighed in on the stock. ValuEngine raised shares of Medifast from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th. Sidoti raised shares of Medifast from a “neutral” rating to a “buy” rating in a research note on Thursday, November 8th. Finally, Zacks Investment Research lowered shares of Medifast from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th.
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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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