Medifast (NYSE:MED) Shares Gap Up to $124.56

Medifast, Inc. (NYSE:MEDGet Rating)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $124.56, but opened at $130.78. Medifast shares last traded at $125.54, with a volume of 24 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on MED. TheStreet lowered shares of Medifast from a “b” rating to a “c+” rating in a research report on Tuesday, August 23rd. Jefferies Financial Group lowered shares of Medifast from a “buy” rating to a “hold” rating and reduced their target price for the company from $345.00 to $150.00 in a report on Thursday, August 4th. StockNews.com upgraded shares of Medifast from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Finally, DA Davidson reduced their target price on shares of Medifast from $352.00 to $278.00 and set a “buy” rating on the stock in a report on Thursday, August 4th.

Medifast Stock Performance

The company has a market capitalization of $1.34 billion, a PE ratio of 9.01 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.46 and a current ratio of 1.29. The stock’s fifty day simple moving average is $147.43 and its 200-day simple moving average is $168.09.

Medifast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Stockholders of record on Tuesday, September 20th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $6.56 annualized dividend and a dividend yield of 5.40%. Medifast’s payout ratio is currently 48.66%.

Insider Transactions at Medifast

In related news, Director Jeffrey J. Brown acquired 3,940 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were acquired at an average cost of $126.54 per share, for a total transaction of $498,567.60. Following the acquisition, the director now directly owns 3,940 shares in the company, valued at approximately $498,567.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey J. Brown acquired 399 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $146.01 per share, for a total transaction of $58,257.99. Following the acquisition, the director now directly owns 35,938 shares in the company, valued at approximately $5,247,307.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey J. Brown acquired 3,940 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were bought at an average price of $126.54 per share, for a total transaction of $498,567.60. Following the completion of the acquisition, the director now owns 3,940 shares in the company, valued at $498,567.60. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MED. BlackRock Inc. increased its position in Medifast by 6.9% during the 1st quarter. BlackRock Inc. now owns 2,134,513 shares of the specialty retailer’s stock worth $364,532,000 after purchasing an additional 138,602 shares in the last quarter. Vanguard Group Inc. increased its position in Medifast by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,521,936 shares of the specialty retailer’s stock worth $259,916,000 after purchasing an additional 22,630 shares in the last quarter. State Street Corp increased its position in Medifast by 0.9% during the 2nd quarter. State Street Corp now owns 377,972 shares of the specialty retailer’s stock worth $68,839,000 after purchasing an additional 3,404 shares in the last quarter. Rice Hall James & Associates LLC increased its position in Medifast by 4.0% during the 4th quarter. Rice Hall James & Associates LLC now owns 326,732 shares of the specialty retailer’s stock worth $68,427,000 after purchasing an additional 12,687 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Medifast by 11.3% during the 2nd quarter. Principal Financial Group Inc. now owns 242,499 shares of the specialty retailer’s stock worth $43,774,000 after purchasing an additional 24,654 shares in the last quarter. 87.66% of the stock is currently owned by hedge funds and other institutional investors.

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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