Medifast, Inc. (NYSE:MED) CEO Purchases $78,980.75 in Stock

Medifast, Inc. (NYSE:MEDGet Rating) CEO Daniel R. Chard acquired 431 shares of the stock in a transaction dated Thursday, May 5th. The stock was acquired at an average cost of $183.25 per share, with a total value of $78,980.75. Following the transaction, the chief executive officer now directly owns 108,598 shares in the company, valued at $19,900,583.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE MED opened at $178.89 on Friday. The stock has a 50-day simple moving average of $179.14 and a two-hundred day simple moving average of $194.59. The firm has a market capitalization of $2.06 billion, a P/E ratio of 12.76 and a beta of 1.30. Medifast, Inc. has a fifty-two week low of $161.44 and a fifty-two week high of $336.99.

Medifast (NYSE:MEDGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The specialty retailer reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.24. The business had revenue of $377.80 million during the quarter, compared to analyst estimates of $375.79 million. Medifast had a return on equity of 81.42% and a net margin of 10.28%. The company’s revenue was up 42.6% on a year-over-year basis. During the same quarter last year, the business posted $2.36 EPS. Sell-side analysts expect that Medifast, Inc. will post 15.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Tuesday, March 29th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, March 28th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from Medifast’s previous quarterly dividend of $1.42. Medifast’s dividend payout ratio (DPR) is presently 46.79%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in shares of Medifast in the 4th quarter valued at about $96,000. Islay Capital Management LLC purchased a new position in shares of Medifast in the 4th quarter valued at about $133,000. Macquarie Group Ltd. increased its stake in shares of Medifast by 20.1% in the 3rd quarter. Macquarie Group Ltd. now owns 634 shares of the specialty retailer’s stock valued at $122,000 after purchasing an additional 106 shares in the last quarter. PEAK6 Investments LLC increased its stake in shares of Medifast by 111.9% in the 4th quarter. PEAK6 Investments LLC now owns 959 shares of the specialty retailer’s stock valued at $201,000 after purchasing an additional 9,015 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Medifast by 30.2% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,078 shares of the specialty retailer’s stock valued at $208,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

A number of equities analysts recently issued reports on MED shares. StockNews.com lowered Medifast from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. DA Davidson reduced their target price on Medifast from $349.00 to $341.00 and set a “buy” rating for the company in a research note on Thursday, February 24th.

About Medifast (Get Rating)

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.

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