Medifast Inc (NYSE:MED) Director Glenn W. Welling sold 275,000 shares of the stock in a transaction dated Friday, December 1st. The shares were 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 is available through this link.

Medifast Inc (MED) opened at $65.53 on Thursday. The company has a market capitalization of $784.16, a PE ratio of 32.37, a P/E/G ratio of 2.02 and a beta of 0.51. Medifast Inc has a 1-year low of $39.21 and a 1-year high of $71.73.

Medifast (NYSE:MED) last issued its quarterly earnings results on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $74.94 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. Medifast’s revenue for the quarter was up 12.5% on a year-over-year basis. analysts anticipate that Medifast Inc will post 2.17 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in Medifast by 248.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock worth $140,000 after buying an additional 1,678 shares during the last quarter. Acrospire Investment Management LLC bought a new position in Medifast during the 2nd quarter worth approximately $108,000. Sei Investments Co. lifted its holdings in Medifast by 95.9% during the 2nd quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock worth $163,000 after buying an additional 1,920 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Medifast by 86.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock worth $174,000 after buying an additional 1,939 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in Medifast during the 3rd quarter worth approximately $267,000. 86.91% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on MED shares. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Friday, November 10th. DA Davidson started coverage on Medifast in a report on Wednesday, August 16th. They issued a “buy” rating for the company. BidaskClub raised Medifast from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. ValuEngine downgraded Medifast from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Sidoti reissued a “neutral” rating and issued a $55.00 price target (up previously from $49.00) on shares of Medifast in a report on Thursday, September 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $69.33.

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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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