Todays Report: The Medifast Inc. (MED) Stake Held by Swiss National Bank

The Medifast Inc. (MED) Stake Held by Swiss National Bank

Swiss National Bank maintained its position in Medifast Inc. (NYSE:MED) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,400 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.16% of Medifast worth $645,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Medifast by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 91,628 shares of the company’s stock valued at $2,766,000 after buying an additional 7,638 shares in the last quarter. AXA increased its position in Medifast by 47.3% in the first quarter. AXA now owns 35,800 shares of the company’s stock valued at $1,081,000 after buying an additional 11,500 shares in the last quarter. Prudential Financial Inc. increased its position in Medifast by 250.7% in the first quarter. Prudential Financial Inc. now owns 88,951 shares of the company’s stock valued at $2,685,000 after buying an additional 63,585 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Medifast by 98.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,087 shares of the company’s stock valued at $103,000 after buying an additional 1,534 shares in the last quarter. Finally, Aperio Group LLC increased its position in Medifast by 3.1% in the first quarter. Aperio Group LLC now owns 22,292 shares of the company’s stock valued at $673,000 after buying an additional 665 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Shares of Medifast Inc. (NYSE:MED) traded up 1.81% during trading on Wednesday, hitting $39.45. The stock had a trading volume of 25,314 shares. The firm has a 50-day moving average price of $37.47 and a 200 day moving average price of $34.17. The company has a market capitalization of $467.40 million, a PE ratio of 27.68 and a beta of 0.65. Medifast Inc. has a 52 week low of $27.12 and a 52 week high of $39.56.

Medifast (NYSE:MED) last posted its earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.12. Medifast had a return on equity of 24.46% and a net margin of 6.29%. The business earned $71.14 million during the quarter, compared to analysts’ expectations of $72.01 million. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Equities analysts anticipate that Medifast Inc. will post $1.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 23rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Wednesday, September 21st. Medifast’s payout ratio is currently 69.44%.

MED has been the subject of several research reports. Wunderlich increased their target price on Medifast from $32.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Thursday, August 11th.

Medifast Company Profile

Medifast, Inc (Medifast) is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and diet products. The Company operates through its subsidiaries, Jason Pharmaceuticals, Inc, Take Shape For Life, Inc, Jason Enterprises, Inc, Medifast Franchise Systems (MFSI), Inc, Jason Properties, LLC, Medifast Nutrition, Inc and Seven Crondall, LLC.

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