Medifast (MED) Shares Bought by ClariVest Asset Management LLC

ClariVest Asset Management LLC increased its stake in shares of Medifast (NYSE:MED) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,758 shares of the specialty retailer’s stock after purchasing an additional 900 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.56% of Medifast worth $6,332,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MED. Convergence Investment Partners LLC acquired a new position in Medifast during the 4th quarter worth approximately $494,000. Schwab Charles Investment Management Inc. increased its position in Medifast by 3.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 46,693 shares of the specialty retailer’s stock worth $3,260,000 after purchasing an additional 1,441 shares in the last quarter. Acadian Asset Management LLC increased its position in Medifast by 1.7% during the 4th quarter. Acadian Asset Management LLC now owns 458,674 shares of the specialty retailer’s stock worth $32,019,000 after purchasing an additional 7,489 shares in the last quarter. First Quadrant L P CA increased its position in Medifast by 5.9% in the 4th quarter. First Quadrant L P CA now owns 12,388 shares of the specialty retailer’s stock valued at $865,000 after acquiring an additional 693 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Medifast in the 4th quarter valued at approximately $2,417,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Shares of NYSE MED opened at $132.91 on Friday. Medifast has a 52-week low of $128.31 and a 52-week high of $129.85. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 58.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.25.

Medifast (NYSE:MED) last announced its quarterly earnings results on Thursday, May 3rd. The specialty retailer reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.15. Medifast had a net margin of 10.26% and a return on equity of 31.11%. The firm had revenue of $98.60 million during the quarter, compared to analysts’ expectations of $89.23 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was up 39.7% on a year-over-year basis. equities research analysts predict that Medifast will post 3.65 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 8th. Stockholders of record on Friday, March 30th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Wednesday, March 28th. Medifast’s dividend payout ratio is currently 83.84%.

In other news, Director Michael C. Macdonald sold 20,000 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $84.45, for a total value of $1,689,000.00. Following the sale, the director now directly owns 334,188 shares of the company’s stock, valued at approximately $28,222,176.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles P. Connolly sold 8,000 shares of the company’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $90.95, for a total transaction of $727,600.00. Following the completion of the sale, the director now directly owns 45,342 shares in the company, valued at $4,123,854.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,500 shares of company stock worth $3,086,425. Insiders own 6.47% of the company’s stock.

Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of Medifast from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. DA Davidson upped their price target on shares of Medifast to $108.00 and gave the company a “buy” rating in a research report on Thursday, March 8th. Sidoti upgraded shares of Medifast from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $97.00 price target for the company in a research report on Saturday, March 10th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. Medifast presently has an average rating of “Buy” and a consensus target price of $95.67.

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.

Institutional Ownership by Quarter for Medifast (NYSE:MED)

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