Medifast Inc (NYSE:MED) Director Glenn W. Welling sold 275,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $64.60, for a total value of $17,765,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Medifast Inc (MED) opened at $66.94 on Wednesday. The company has a market capitalization of $784.16, a price-to-earnings ratio of 32.37, a PEG ratio of 2.02 and a beta of 0.51. Medifast Inc has a 1-year low of $38.75 and a 1-year high of $71.73.

Medifast (NYSE:MED) last announced its earnings results on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Medifast had a return on equity of 24.07% and a net margin of 8.58%. The company had revenue of $77.20 million for the quarter, compared to analysts’ expectations of $74.94 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. equities analysts forecast that Medifast Inc will post 2.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, September 21st. Medifast’s dividend payout ratio (DPR) is presently 63.05%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Chicago Equity Partners LLC lifted its stake in shares of Medifast by 0.5% during the second quarter. Chicago Equity Partners LLC now owns 17,460 shares of the specialty retailer’s stock valued at $724,000 after acquiring an additional 90 shares during the period. Texas Permanent School Fund lifted its stake in shares of Medifast by 1.5% during the second quarter. Texas Permanent School Fund now owns 8,185 shares of the specialty retailer’s stock valued at $339,000 after acquiring an additional 122 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Medifast by 1.5% during 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. Schwab Charles Investment Management Inc. lifted its stake in shares of Medifast by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 42,990 shares of the specialty retailer’s stock valued at $1,783,000 after acquiring an additional 247 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Medifast by 0.4% during the first quarter. Geode Capital Management LLC now owns 136,067 shares of the specialty retailer’s stock valued at $6,036,000 after acquiring an additional 576 shares during the period. 86.91% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on MED. DA Davidson began coverage on Medifast in a report on Wednesday, August 16th. They set a “buy” rating on the stock. ValuEngine cut Medifast from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub upgraded Medifast from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Sidoti restated a “neutral” rating and set a $55.00 target price (up previously from $49.00) on shares of Medifast in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Friday, November 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $69.33.

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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.

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