Medifast Inc. (NYSE:MED) hit a new 52-week high during trading on Monday . The company traded as high as $35.87 and last traded at $35.76, with a volume of 54,429 shares changing hands. The stock had previously closed at $35.22.

Separately, Zacks Investment Research downgraded shares of Medifast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 17th.

The company’s 50 day moving average price is $33.57 and its 200 day moving average price is $31.47. The stock has a market cap of $414.22 million and a P/E ratio of 21.07.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Monday, June 27th will be issued a $0.25 dividend. The ex-dividend date is Thursday, June 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%.

In related news, major shareholder Balanced Master Fund L. Visium sold 1,350,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $30.25, for a total value of $40,837,500.00. Following the completion of the sale, the insider now directly owns 1,247,882 shares in the company, valued at $37,748,430.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

A hedge fund recently raised its stake in Medifast stock. California Public Employees Retirement System raised its position in shares of Medifast Inc. (NYSE:MED) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 73,500 shares of the company’s stock after buying an additional 700 shares during the period. California Public Employees Retirement System owned about 0.63% of Medifast worth $2,233,000 at the end of the most recent reporting period.

Medifast, Inc (Medifast) is engaged in the production, distribution, and sale of weight loss and weight management products and other consumable health and diet products. The Company’s operations are primarily conducted through its wholly owned subsidiaries, Jason Pharmaceuticals, Inc, Take Shape For Life, Inc, Jason Enterprises, Inc, Medifast Franchise Systems (MFSI), Inc, Jason Properties, LLC, Medifast Nutrition, Inc and Seven Crondall, LLC.

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