Medifast Inc (NYSE:MED) Director Michael C. Macdonald sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $84.45, for a total transaction of $1,689,000.00. Following the completion of the transaction, the director now directly owns 334,188 shares in the company, valued at $28,222,176.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Medifast Inc (NYSE MED) opened at $90.17 on Thursday. The firm has a market cap of $1,080.00, a price-to-earnings ratio of 39.38, a PEG ratio of 1.81 and a beta of 0.61. Medifast Inc has a 52-week low of $40.00 and a 52-week high of $92.91.
Medifast (NYSE:MED) last announced its quarterly earnings results on Tuesday, March 6th. The specialty retailer reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.12. The company had revenue of $78.01 million for the quarter, compared to analysts’ expectations of $73.48 million. Medifast had a net margin of 9.19% and a return on equity of 26.39%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. equities analysts anticipate that Medifast Inc will post 3.25 EPS for the current fiscal year.
A number of brokerages have issued reports on MED. Sidoti raised shares of Medifast from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a research note on Saturday, March 10th. DA Davidson raised their price objective on shares of Medifast to $108.00 and gave the company a “buy” rating in a research note on Thursday, March 8th. Finally, ValuEngine cut shares of Medifast from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Medifast presently has a consensus rating of “Buy” and an average price target of $86.67.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC bought a new position in shares of Medifast during the fourth quarter worth $296,000. Municipal Employees Retirement System of Michigan boosted its position in shares of 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 purchasing an additional 9,270 shares in the last quarter. Millennium Management LLC boosted its position in shares of 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 purchasing an additional 26,178 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of 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 purchasing an additional 30,593 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of 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 purchasing an additional 7,806 shares in the last quarter. 88.14% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Michael C. Macdonald Sells 20,000 Shares of Medifast Inc (MED) Stock” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/03/15/michael-c-macdonald-sells-20000-shares-of-medifast-inc-med-stock.html.
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.
Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.