Medifast Inc (NYSE:MED) Director Charles P. Connolly sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $89.31, for a total transaction of $669,825.00. Following the sale, the director now owns 40,342 shares of the company’s stock, valued at approximately $3,602,944.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Medifast stock opened at $90.45 on Thursday. Medifast Inc has a 12-month low of $40.00 and a 12-month high of $92.91. The company has a market cap of $1,085.36, a price-to-earnings ratio of 39.72, a P/E/G ratio of 1.87 and a beta of 0.61.
Medifast (NYSE:MED) last released its quarterly earnings results on Tuesday, March 6th. The specialty retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.48 by $0.12. Medifast had a net margin of 9.19% and a return on equity of 26.39%. The firm had revenue of $78.01 million during the quarter, compared to the consensus estimate of $73.48 million. During the same quarter in the prior year, the firm earned $0.34 EPS. Medifast’s revenue for the quarter was up 24.9% on a year-over-year basis. analysts expect that Medifast Inc will post 3.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 8th. Investors of record on Friday, March 30th will be given a $0.48 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.92 annualized dividend and a yield of 2.12%. Medifast’s dividend payout ratio (DPR) is 83.84%.
Several analysts have recently weighed in on MED shares. DA Davidson boosted their price objective on shares of Medifast to $89.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Friday, January 5th. Sidoti upgraded shares of Medifast from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, ValuEngine upgraded shares of Medifast from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $86.67.
A number of hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC purchased a new stake in Medifast in the 4th quarter valued at $296,000. Municipal Employees Retirement System of Michigan raised its position in Medifast by 156.9% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the specialty retailer’s stock worth $1,060,000 after buying an additional 9,270 shares during the last quarter. Millennium Management LLC raised its position in Medifast by 18.0% during the 4th quarter. Millennium Management LLC now owns 171,881 shares of the specialty retailer’s stock worth $11,999,000 after buying an additional 26,178 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Medifast by 25.1% during the 4th quarter. TIAA CREF Investment Management LLC now owns 152,507 shares of the specialty retailer’s stock worth $10,647,000 after buying an additional 30,593 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Medifast by 27.3% during the 4th quarter. Teachers Advisors LLC now owns 36,440 shares of the specialty retailer’s stock worth $2,544,000 after buying an additional 7,806 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.
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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