Medifast (NYSE:MED) Sees Unusually-High Trading Volume

Medifast, Inc. (NYSE:MED) saw unusually-high trading volume on Thursday . Approximately 17,410 shares changed hands during trading, a decline of 86% from the previous session’s volume of 121,109 shares.The stock last traded at $195.29 and had previously closed at $190.33.

A number of equities research analysts recently commented on the company. DA Davidson reiterated a “buy” rating and issued a C$395.00 target price on shares of Medifast in a research report on Monday, August 23rd. Zacks Investment Research lowered Medifast from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Tuesday, October 5th.

The stock has a 50-day moving average of $219.51 and a 200 day moving average of $253.37. The stock has a market cap of $2.30 billion, a PE ratio of 15.43 and a beta of 1.39.

Medifast (NYSE:MED) last announced its quarterly earnings results on Wednesday, August 4th. The specialty retailer reported $3.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.30 by $0.66. Medifast had a return on equity of 90.26% and a net margin of 11.84%. The company had revenue of $394.20 million during the quarter, compared to the consensus estimate of $359.25 million. During the same period in the previous year, the company posted $1.86 earnings per share. Medifast’s revenue for the quarter was up 79.2% on a year-over-year basis. On average, equities analysts predict that Medifast, Inc. will post 13.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 8th. Shareholders of record on Tuesday, September 21st will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Monday, September 20th. Medifast’s payout ratio is presently 62.14%.

In other Medifast news, Director Jeffrey J. Brown bought 142 shares of Medifast stock in a transaction dated Friday, August 6th. The stock was acquired at an average cost of $286.16 per share, with a total value of $40,634.72. Following the purchase, the director now directly owns 765 shares in the company, valued at approximately $218,912.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Kevin G. Byrnes sold 673 shares of the company’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $221.99, for a total value of $149,399.27. Following the transaction, the director now directly owns 8,154 shares of the company’s stock, valued at $1,810,106.46. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its stake in Medifast by 7.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 5,700 shares of the specialty retailer’s stock valued at $1,098,000 after purchasing an additional 400 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Medifast by 5.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,559 shares of the specialty retailer’s stock valued at $1,648,000 after purchasing an additional 426 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Medifast by 2.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 18,526 shares of the specialty retailer’s stock valued at $5,242,000 after purchasing an additional 458 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Medifast by 2.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 72,275 shares of the specialty retailer’s stock valued at $20,452,000 after purchasing an additional 1,624 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Medifast in the 2nd quarter valued at $268,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

Medifast Company Profile (NYSE:MED)

Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand-a highly competitive and effective lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The company was founded by William Vitale in 1981 and is headquartered in Baltimore, MD.

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