Insider Buying: Medifast, Inc. (NYSE:MED) Director Acquires 266 Shares of Stock

Medifast, Inc. (NYSE:MEDGet Rating) Director Jeffrey J. Brown acquired 266 shares of the company’s stock in a transaction that occurred on Friday, February 4th. The stock was purchased at an average price of $186.40 per share, for a total transaction of $49,582.40. Following the purchase, the director now owns 35,223 shares of the company’s stock, valued at approximately $6,565,567.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of NYSE MED traded down $8.22 during trading on Thursday, hitting $186.70. The company had a trading volume of 89,803 shares, compared to its average volume of 123,890. Medifast, Inc. has a 12 month low of $161.44 and a 12 month high of $336.99. The stock has a 50 day simple moving average of $180.36 and a 200 day simple moving average of $196.24. The firm has a market capitalization of $2.16 billion, a P/E ratio of 13.44 and a beta of 1.41.

Medifast (NYSE:MEDGet Rating) last announced its earnings results on Wednesday, February 23rd. The specialty retailer reported $2.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.67 by $0.24. Medifast had a net margin of 10.75% and a return on equity of 85.40%. The business had revenue of $377.80 million for the quarter, compared to the consensus estimate of $375.79 million. During the same quarter in the prior year, the firm posted $2.36 earnings per share. The business’s revenue for the quarter was up 42.6% on a year-over-year basis. Equities analysts anticipate that Medifast, Inc. will post 15.41 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 9th. Stockholders of record on Tuesday, March 29th will be issued a $1.64 dividend. This is a boost from Medifast’s previous quarterly dividend of $1.42. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, March 28th. Medifast’s dividend payout ratio (DPR) is currently 47.23%.

MED has been the topic of a number of research analyst reports. DA Davidson reduced their target price on Medifast from $349.00 to $341.00 and set a “buy” rating on the stock in a research note on Thursday, February 24th. StockNews.com upgraded shares of Medifast from a “hold” rating to a “buy” rating in a report on Thursday, March 24th.

Institutional investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. increased its stake in shares of Medifast by 31.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 45,150 shares of the specialty retailer’s stock worth $5,758,000 after acquiring an additional 10,792 shares during the period. Morgan Stanley boosted its stake in shares of Medifast by 15.7% during the 2nd quarter. Morgan Stanley now owns 152,020 shares of the specialty retailer’s stock worth $43,019,000 after acquiring an additional 20,606 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Medifast by 53.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 12,064 shares of the specialty retailer’s stock worth $2,324,000 after acquiring an additional 4,224 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Medifast by 100.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,000 shares of the specialty retailer’s stock worth $385,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Medifast by 17.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,732 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 854 shares in the last quarter. 86.88% of the stock is owned by hedge funds and other institutional investors.

About Medifast (Get Rating)

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.

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Insider Buying and Selling by Quarter for Medifast (NYSE:MED)

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