Medifast EVP Unloads $89,339 in Stock (MED)
Medifast (NYSE:MED) EVP Jeannette M. Mills sold 2,784 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $32.09, for a total value of $89,338.56. Following the completion of the sale, the executive vice president now directly owns 23,116 shares in the company, valued at approximately $741,792. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Medifast (NYSE:MED) traded down 1.59% during mid-day trading on Tuesday, hitting $31.54. The stock had a trading volume of 198,197 shares. Medifast has a 52-week low of $23.02 and a 52-week high of $33.23. The stock has a 50-day moving average of $30.81 and a 200-day moving average of $28.08. The company has a market cap of $414.2 million and a P/E ratio of 18.31.
Medifast (NYSE:MED) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.08. The company had revenue of $86.50 million for the quarter, compared to the consensus estimate of $87.60 million. During the same quarter last year, the company posted $0.43 earnings per share. Medifast’s revenue was down 9.9% compared to the same quarter last year. On average, analysts predict that Medifast will post $1.83 earnings per share for the current fiscal year.
MED has been the subject of a number of recent research reports. Analysts at Canaccord Genuity cut their price target on shares of Medifast from $32.00 to $31.00 in a research note on Tuesday, May 6th. Separately, analysts at Imperial Capital raised their price target on shares of Medifast from $30.00 to $36.00 in a research note on Wednesday, April 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Imperial Capital reiterated a “buy” rating on shares of Medifast in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the company. Medifast currently has a consensus rating of “Buy” and a consensus target price of $31.80.
Medifast, Inc (NYSE:MED) is engaged in the production, distribution, and sale of weight management and disease management products and other consumable health and diet products.
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