Medifast Inc (MED) Director Sells $727,600.00 in Stock

Medifast Inc (NYSE:MED) Director Charles P. Connolly sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $90.95, for a total transaction of $727,600.00. Following the sale, the director now owns 45,342 shares of the company’s stock, valued at approximately $4,123,854.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of MED stock opened at $88.76 on Friday. The stock has a market cap of $1,072.24, a PE ratio of 38.76, a PEG ratio of 1.84 and a beta of 0.61. Medifast Inc has a 12 month low of $40.00 and a 12 month high of $92.91.

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Medifast (NYSE:MED) last posted its earnings results on Tuesday, March 6th. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.12. Medifast had a net margin of 9.19% and a return on equity of 26.39%. The company had revenue of $78.01 million during the quarter, compared to analysts’ expectations of $73.48 million. During the same quarter last year, the company posted $0.34 EPS. Medifast’s quarterly revenue was up 24.9% compared to the same quarter last year. equities research analysts forecast that Medifast Inc will post 3.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 8th. Investors of record on Friday, March 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Wednesday, March 28th. Medifast’s dividend payout ratio is 83.84%.

A number of large investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC bought a new position in Medifast during the fourth quarter worth about $296,000. Municipal Employees Retirement System of Michigan increased its position in Medifast by 156.9% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the specialty retailer’s stock worth $1,060,000 after acquiring an additional 9,270 shares during the period. Millennium Management LLC increased its position in Medifast by 18.0% during the fourth quarter. Millennium Management LLC now owns 171,881 shares of the specialty retailer’s stock worth $11,999,000 after acquiring an additional 26,178 shares during the period. TIAA CREF Investment Management LLC increased its position in Medifast by 25.1% during the fourth quarter. TIAA CREF Investment Management LLC now owns 152,507 shares of the specialty retailer’s stock worth $10,647,000 after acquiring an additional 30,593 shares during the period. Finally, Teachers Advisors LLC increased its position in Medifast by 27.3% during the fourth quarter. Teachers Advisors LLC now owns 36,440 shares of the specialty retailer’s stock worth $2,544,000 after acquiring an additional 7,806 shares during the period. 88.14% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on MED. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $97.00 target price for the company in a research note on Saturday, March 10th. DA Davidson raised their target price on shares of Medifast to $108.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Sidoti upgraded shares of Medifast from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, ValuEngine upgraded shares of Medifast from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $86.67.

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About Medifast

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.

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

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