Medifast Inc (NYSE:MED) Director Glenn W. Welling sold 275,000 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Medifast Inc (NYSE MED) traded down $0.90 during midday trading on Tuesday, reaching $65.71. The company’s stock had a trading volume of 146,600 shares, compared to its average volume of 96,026. Medifast Inc has a 12-month low of $38.75 and a 12-month high of $71.73. The firm has a market capitalization of $794.90, a PE ratio of 32.81, a P/E/G ratio of 2.05 and a beta of 0.51.

Medifast (NYSE:MED) last announced its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm 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 firm posted $0.51 earnings per share. Medifast’s revenue for the quarter was up 12.5% compared to the same quarter last year. equities research analysts expect that Medifast Inc will post 2.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 22nd were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, September 21st. Medifast’s payout ratio is currently 63.05%.

Several research 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 on the stock in a research note on Friday, November 10th. Sidoti reiterated a “neutral” rating and issued a $55.00 price target (up previously from $49.00) on shares of Medifast in a research note on Thursday, September 21st. DA Davidson boosted their price target on Medifast from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. BidaskClub upgraded Medifast from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Finally, ValuEngine cut Medifast from a “buy” rating to a “hold” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.33.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its stake in Medifast by 248.2% during the third quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 1,678 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Medifast by 3.7% during the third quarter. California Public Employees Retirement System now owns 69,135 shares of the specialty retailer’s stock valued at $4,105,000 after purchasing an additional 2,435 shares during the last quarter. OxFORD Asset Management LLP grew its holdings in shares of Medifast by 16.7% during the third quarter. OxFORD Asset Management LLP now owns 86,314 shares of the specialty retailer’s stock valued at $5,109,000 after purchasing an additional 12,378 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Medifast by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 669,999 shares of the specialty retailer’s stock valued at $39,778,000 after purchasing an additional 10,103 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Medifast by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 45,252 shares of the specialty retailer’s stock valued at $2,687,000 after purchasing an additional 2,262 shares during the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.

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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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