Russell Investments Group Ltd. lessened its holdings in shares of MEDIFAST INC (NYSE:MED) by 37.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,908 shares of the specialty retailer’s stock after selling 31,142 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.44% of MEDIFAST INC worth $2,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mason Street Advisors LLC boosted its stake in MEDIFAST INC by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 2,604 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 170 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of MEDIFAST INC during the 2nd quarter valued at about $203,000. OppenheimerFunds Inc. acquired a new position in shares of MEDIFAST INC during the 1st quarter valued at about $218,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of MEDIFAST INC by 1.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,173 shares of the specialty retailer’s stock valued at $230,000 after acquiring an additional 91 shares during the last quarter. Finally, Bowling Portfolio Management LLC acquired a new position in shares of MEDIFAST INC during the 1st quarter valued at about $237,000. 89.48% of the stock is currently owned by institutional investors.

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Several research analysts have recently weighed in on MED shares. BidaskClub raised shares of MEDIFAST INC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. DA Davidson started coverage on shares of MEDIFAST INC in a research report on Wednesday, August 16th. They set a “buy” rating on the stock.

Shares of MEDIFAST INC (NYSE MED) traded down 1.68% on Monday, hitting $55.67. 62,276 shares of the stock traded hands. The company has a market cap of $664.14 million, a PE ratio of 27.97 and a beta of 0.43. MEDIFAST INC has a 12 month low of $35.55 and a 12 month high of $56.70. The firm’s 50 day moving average is $48.15 and its 200-day moving average is $44.66.

MEDIFAST INC (NYSE:MED) last posted its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. MEDIFAST INC had a return on equity of 24.25% and a net margin of 8.62%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. Equities analysts predict that MEDIFAST INC will post $2.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Friday, June 23rd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Wednesday, June 21st. MEDIFAST INC’s payout ratio is currently 64.32%.

About MEDIFAST INC

Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.

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Institutional Ownership by Quarter for MEDIFAST INC (NYSE:MED)

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