Medifast Inc (NYSE:MED) Shares Sold by Eqis Capital Management Inc.

Eqis Capital Management Inc. cut its position in shares of Medifast Inc (NYSE:MED) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,656 shares of the specialty retailer’s stock after selling 392 shares during the period. Eqis Capital Management Inc. owned about 0.06% of Medifast worth $982,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of Medifast by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,635 shares of the specialty retailer’s stock worth $591,000 after acquiring an additional 84 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Medifast by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 12,915 shares of the specialty retailer’s stock worth $1,647,000 after acquiring an additional 93 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Medifast by 2.6% in the 1st quarter. Mason Street Advisors LLC now owns 3,812 shares of the specialty retailer’s stock worth $486,000 after acquiring an additional 96 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Medifast by 41.8% in the 4th quarter. Macquarie Group Ltd. now owns 339 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 100 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Medifast by 5.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,900 shares of the specialty retailer’s stock worth $242,000 after acquiring an additional 100 shares in the last quarter. 98.18% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MED opened at $98.06 on Friday. The business’s 50-day moving average is $113.16 and its 200 day moving average is $129.83. Medifast Inc has a 1 year low of $96.40 and a 1 year high of $260.98. The firm has a market capitalization of $1.23 billion, a P/E ratio of 21.23 and a beta of 0.71.

Medifast (NYSE:MED) last announced its earnings results on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04. The company had revenue of $187.10 million for the quarter, compared to analyst estimates of $181.74 million. Medifast had a return on equity of 61.06% and a net margin of 11.22%. The firm’s quarterly revenue was up 59.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, equities analysts predict that Medifast Inc will post 6.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Friday, June 28th were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, June 27th. This represents a $3.00 annualized dividend and a yield of 3.06%. Medifast’s payout ratio is presently 64.94%.

Several research firms have recently commented on MED. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Tuesday, August 6th. Jefferies Financial Group started coverage on Medifast in a research report on Thursday, July 25th. They set a “buy” rating and a $130.00 target price on the stock. Finally, ValuEngine lowered Medifast from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th.

About Medifast

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.

Recommended Story: Front-End Load

Institutional Ownership by Quarter for Medifast (NYSE:MED)

Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.