Jeffrey J. Brown Purchases 10,000 Shares of Medifast Inc. (MED) Stock
Medifast Inc. (NYSE:MED) Director Jeffrey J. Brown acquired 10,000 shares of Medifast stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average price of $38.71 per share, for a total transaction of $387,100.00. Following the completion of the purchase, the director now directly owns 13,254 shares of the company’s stock, valued at $513,062.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Medifast Inc. (NYSE:MED) opened at 39.19 on Wednesday. Medifast Inc. has a 12 month low of $27.12 and a 12 month high of $42.14. The firm has a market capitalization of $464.32 million, a price-to-earnings ratio of 26.57 and a beta of 0.72. The firm has a 50-day moving average price of $39.48 and a 200 day moving average price of $35.76.
Medifast (NYSE:MED) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The company had revenue of $68.57 million for the quarter, compared to the consensus estimate of $66.79 million. Medifast had a return on equity of 24.64% and a net margin of 6.43%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. On average, analysts anticipate that Medifast Inc. will post $1.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, September 23rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Wednesday, September 21st. Medifast’s payout ratio is presently 67.11%.
Several hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of Medifast by 250.7% in the first quarter. Prudential Financial Inc. now owns 88,951 shares of the company’s stock valued at $2,685,000 after buying an additional 63,585 shares during the last quarter. AXA raised its stake in shares of Medifast by 47.3% in the first quarter. AXA now owns 35,800 shares of the company’s stock valued at $1,081,000 after buying an additional 11,500 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Medifast by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 91,628 shares of the company’s stock valued at $2,766,000 after buying an additional 7,638 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Medifast by 10.9% in the first quarter. Renaissance Technologies LLC now owns 827,900 shares of the company’s stock valued at $24,994,000 after buying an additional 81,600 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Medifast by 98.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,087 shares of the company’s stock valued at $103,000 after buying an additional 1,534 shares during the last quarter. 90.37% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on MED shares. Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, August 11th. Wunderlich increased their target price on Medifast from $32.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, August 4th.
Medifast, Inc (Medifast) is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and diet products. The Company operates through its subsidiaries, Jason Pharmaceuticals, Inc, Take Shape For Life, Inc, Jason Enterprises, Inc, Medifast Franchise Systems (MFSI), Inc, Jason Properties, LLC, Medifast Nutrition, Inc and Seven Crondall, LLC.
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