Range Financial Group LLC Purchases New Position in Medifast, Inc. (NYSE:MED)

Range Financial Group LLC purchased a new stake in Medifast, Inc. (NYSE:MEDGet Rating) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,052 shares of the specialty retailer’s stock, valued at approximately $1,375,000. Range Financial Group LLC owned about 0.07% of Medifast at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MED. Envestnet Asset Management Inc. lifted its holdings in shares of Medifast by 16.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,169 shares of the specialty retailer’s stock valued at $1,082,000 after acquiring an additional 730 shares during the last quarter. Aviva PLC lifted its holdings in shares of Medifast by 70.0% in the 4th quarter. Aviva PLC now owns 12,211 shares of the specialty retailer’s stock valued at $2,557,000 after acquiring an additional 5,026 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Medifast by 19.5% in the 4th quarter. Teacher Retirement System of Texas now owns 2,150 shares of the specialty retailer’s stock valued at $450,000 after acquiring an additional 351 shares during the last quarter. Citigroup Inc. lifted its stake in Medifast by 22.9% in the fourth quarter. Citigroup Inc. now owns 11,324 shares of the specialty retailer’s stock worth $2,372,000 after purchasing an additional 2,109 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Medifast by 12.3% in the fourth quarter. JPMorgan Chase & Co. now owns 48,627 shares of the specialty retailer’s stock worth $10,183,000 after purchasing an additional 5,325 shares during the last quarter. Institutional investors own 87.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MED. TheStreet downgraded shares of Medifast from a “b” rating to a “c+” rating in a research note on Tuesday, August 23rd. StockNews.com raised shares of Medifast from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. DA Davidson decreased their price objective on shares of Medifast from $352.00 to $278.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Finally, Jefferies Financial Group downgraded shares of Medifast from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $345.00 to $150.00 in a research note on Thursday, August 4th.

Insider Buying and Selling at Medifast

In other news, Director Jeffrey J. Brown bought 399 shares of the stock in a transaction on Thursday, August 4th. The stock was bought at an average cost of $146.01 per share, for a total transaction of $58,257.99. Following the completion of the purchase, the director now directly owns 35,938 shares in the company, valued at $5,247,307.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey J. Brown bought 399 shares of the stock in a transaction on Thursday, August 4th. The stock was bought at an average cost of $146.01 per share, for a total transaction of $58,257.99. Following the completion of the purchase, the director now directly owns 35,938 shares in the company, valued at $5,247,307.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Brown bought 3,940 shares of the stock in a transaction on Tuesday, August 9th. The stock was purchased at an average price of $126.54 per share, with a total value of $498,567.60. Following the completion of the purchase, the director now owns 3,940 shares of the company’s stock, valued at $498,567.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Medifast Stock Performance

Shares of MED stock opened at $124.56 on Wednesday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 9.24 and a beta of 1.18. The company’s 50 day moving average is $148.70 and its 200 day moving average is $168.42. The company has a quick ratio of 0.46, a current ratio of 1.29 and a debt-to-equity ratio of 0.18. Medifast, Inc. has a 52-week low of $116.50 and a 52-week high of $235.71.

Medifast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Tuesday, September 20th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 5.27%. The ex-dividend date is Monday, September 19th. Medifast’s payout ratio is 48.66%.

Medifast Company Profile

(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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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