Medifast Inc (MED) Director Sells $17,765,000.00 in Stock

Medifast Inc (NYSE:MED) Director Glenn W. Welling sold 275,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $64.60, for a total transaction of $17,765,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Medifast Inc (NYSE MED) opened at $71.40 on Friday. The stock has a market cap of $822.94, a P/E ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.51. Medifast Inc has a 1-year low of $39.50 and a 1-year high of $71.73.

Medifast (NYSE:MED) last posted its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $77.20 million during the quarter, compared to analysts’ expectations of $74.94 million. Medifast had a net margin of 8.58% and a return on equity of 24.07%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. sell-side analysts expect that Medifast Inc will post 2.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Friday, December 22nd will be issued a $0.48 dividend. The ex-dividend date is Thursday, December 21st. This is a boost from Medifast’s previous quarterly dividend of $0.32. This represents a $1.92 annualized dividend and a dividend yield of 2.69%. Medifast’s dividend payout ratio (DPR) is 62.75%.

MED has been the topic of several research reports. BidaskClub upgraded shares of Medifast from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. DA Davidson started coverage on shares of Medifast in a research note on Wednesday, August 16th. They issued a “buy” rating on the stock. Sidoti restated a “neutral” rating and issued a $55.00 price target (up previously from $49.00) on shares of Medifast in a research note on Thursday, September 21st. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Friday, November 10th. Finally, ValuEngine lowered shares of Medifast from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Medifast currently has a consensus rating of “Hold” and a consensus price target of $69.33.

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Medifast by 248.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock valued at $140,000 after acquiring an additional 1,678 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Medifast by 3.7% during the third quarter. California Public Employees Retirement System now owns 69,135 shares of the specialty retailer’s stock worth $4,105,000 after buying an additional 2,435 shares in the last quarter. OxFORD Asset Management LLP boosted its holdings in Medifast by 16.7% during the third quarter. OxFORD Asset Management LLP now owns 86,314 shares of the specialty retailer’s stock worth $5,109,000 after buying an additional 12,378 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Medifast by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 669,999 shares of the specialty retailer’s stock worth $39,778,000 after buying an additional 10,103 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Medifast by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 45,252 shares of the specialty retailer’s stock worth $2,687,000 after buying an additional 2,262 shares in the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.

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Medifast Company Profile

Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.

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