Teacher Retirement System of Texas Increases Holdings in Medifast, Inc. (NYSE:MED)

Teacher Retirement System of Texas grew its holdings in Medifast, Inc. (NYSE:MED) by 17.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,376 shares of the specialty retailer’s stock after acquiring an additional 207 shares during the period. Teacher Retirement System of Texas’ holdings in Medifast were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. purchased a new position in shares of Medifast in the first quarter valued at about $28,000. C M Bidwell & Associates Ltd. lifted its position in shares of Medifast by 26.5% in the first quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the specialty retailer’s stock worth $40,000 after buying an additional 40 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of Medifast by 1,264.7% in the second quarter. Arcadia Investment Management Corp MI now owns 232 shares of the specialty retailer’s stock worth $66,000 after buying an additional 215 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Medifast by 1,175.0% in the first quarter. Captrust Financial Advisors now owns 255 shares of the specialty retailer’s stock worth $54,000 after buying an additional 235 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new stake in shares of Medifast in the first quarter worth about $59,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

Separately, DA Davidson reiterated a “buy” rating and issued a C$395.00 target price on shares of Medifast in a research report on Monday, August 23rd.

In other news, Director Kevin G. Byrnes sold 673 shares of the company’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $221.99, for a total transaction of $149,399.27. Following the transaction, the director now owns 8,154 shares of the company’s stock, valued at $1,810,106.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey J. Brown bought 142 shares of the business’s stock in a transaction dated Friday, August 6th. The shares were acquired at an average cost of $286.16 per share, for a total transaction of $40,634.72. Following the purchase, the director now owns 765 shares of the company’s stock, valued at approximately $218,912.40. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

NYSE:MED opened at $219.22 on Wednesday. The company has a market capitalization of $2.57 billion, a P/E ratio of 17.28 and a beta of 1.39. Medifast, Inc. has a 12 month low of $139.59 and a 12 month high of $336.99. The business’s 50-day moving average is $252.07 and its 200 day moving average is $259.72.

Medifast (NYSE:MED) last issued its quarterly earnings data on Wednesday, August 4th. The specialty retailer reported $3.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.30 by $0.66. Medifast had a return on equity of 90.26% and a net margin of 11.84%. The company had revenue of $394.20 million for the quarter, compared to analysts’ expectations of $359.25 million. During the same period in the previous year, the firm posted $1.86 earnings per share. The firm’s revenue for the quarter was up 79.2% on a year-over-year basis. Equities research analysts predict that Medifast, Inc. will post 13.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 8th. Shareholders of record on Tuesday, September 21st will be paid a dividend of $1.42 per share. The ex-dividend date is Monday, September 20th. This represents a $5.68 annualized dividend and a yield of 2.59%. Medifast’s payout ratio is currently 62.14%.

Medifast Profile

Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand-a highly competitive and effective lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The company was founded by William Vitale in 1981 and is headquartered in Baltimore, MD.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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