Medifast Inc (NYSE:MED) Director Charles P. Connolly sold 7,500 shares of Medifast stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $89.31, for a total value of $669,825.00. Following the completion of the transaction, the director now owns 40,342 shares of the company’s stock, valued at $3,602,944.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
MED stock opened at $90.95 on Wednesday. Medifast Inc has a 52 week low of $40.00 and a 52 week high of $92.91. The company has a market capitalization of $1,072.72, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 1.84 and a beta of 0.61.
Medifast (NYSE:MED) last issued its earnings results on Tuesday, March 6th. The specialty retailer reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.12. Medifast had a return on equity of 26.39% and a net margin of 9.19%. The company had revenue of $78.01 million during the quarter, compared to the consensus estimate of $73.48 million. During the same period in the previous year, the firm posted $0.34 earnings per share. Medifast’s quarterly revenue was up 24.9% compared to the same quarter last year. research analysts forecast that Medifast Inc will post 3.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 8th. Shareholders of record on Friday, March 30th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.11%. Medifast’s payout ratio is currently 83.84%.
A number of equities analysts recently commented on MED shares. Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Friday, January 5th. ValuEngine upgraded Medifast from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. DA Davidson lifted their target price on Medifast to $89.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Finally, Sidoti upgraded Medifast from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 7th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Medifast has an average rating of “Buy” and an average target price of $86.67.
A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Medifast by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,352 shares of the specialty retailer’s stock valued at $346,000 after acquiring an additional 123 shares during the period. First Quadrant L P CA boosted its stake in Medifast by 5.9% in the fourth quarter. First Quadrant L P CA now owns 12,388 shares of the specialty retailer’s stock valued at $865,000 after acquiring an additional 693 shares during the period. Victory Capital Management Inc. boosted its position in shares of Medifast by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,541 shares of the specialty retailer’s stock worth $945,000 after buying an additional 821 shares during the period. First Trust Advisors LP boosted its position in shares of Medifast by 13.4% during the fourth quarter. First Trust Advisors LP now owns 9,401 shares of the specialty retailer’s stock worth $656,000 after buying an additional 1,108 shares during the period. Finally, LS Investment Advisors LLC boosted its position in shares of Medifast by 341.5% during the fourth quarter. LS Investment Advisors LLC now owns 1,691 shares of the specialty retailer’s stock worth $118,000 after buying an additional 1,308 shares during the period. Institutional investors own 88.14% of the company’s stock.
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Medifast Company Profile
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.
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