Carl E. Sassano Sells 5,000 Shares of Medifast Inc (MED) Stock

Medifast Inc (NYSE:MED) Director Carl E. Sassano sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $135.47, for a total transaction of $677,350.00. Following the sale, the director now owns 13,156 shares in the company, valued at approximately $1,782,243.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Medifast stock opened at $132.94 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of 28.77, a P/E/G ratio of 1.04 and a beta of 0.64. Medifast Inc has a fifty-two week low of $87.40 and a fifty-two week high of $260.98.

Medifast (NYSE:MED) last posted its quarterly earnings data on Tuesday, February 26th. The specialty retailer reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.09. The firm had revenue of $145.80 million for the quarter, compared to analysts’ expectations of $141.86 million. Medifast had a net margin of 11.14% and a return on equity of 51.04%. The business’s quarterly revenue was up 86.9% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. As a group, sell-side analysts expect that Medifast Inc will post 6.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, March 29th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, March 28th. Medifast’s dividend payout ratio is currently 64.94%.

Several hedge funds have recently added to or reduced their stakes in MED. Loeb Partners Corp bought a new position in shares of Medifast during the 4th quarter valued at $25,000. Cutler Group LP grew its holdings in shares of Medifast by 133.3% during the 4th quarter. Cutler Group LP now owns 300 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 1,200 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Medifast by 41.8% during the 4th quarter. Macquarie Group Ltd. now owns 339 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Medifast during the 4th quarter valued at $159,000. Finally, LS Investment Advisors LLC grew its holdings in shares of Medifast by 8.1% during the 4th quarter. LS Investment Advisors LLC now owns 1,502 shares of the specialty retailer’s stock valued at $188,000 after purchasing an additional 113 shares during the last quarter. 94.08% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on MED shares. Sidoti raised their price objective on shares of Medifast from $211.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. ValuEngine cut shares of Medifast from a “buy” rating to a “hold” rating in a research report on Friday, November 23rd. Finally, Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $146.00 price objective on the stock in a research report on Tuesday, March 5th.

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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.

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