Medifast (NYSE:MED) Sees Strong Trading Volume

Medifast, Inc. (NYSE:MEDGet Rating) saw strong trading volume on Wednesday . 8,664 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 199,686 shares.The stock last traded at $119.28 and had previously closed at $119.05.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. TheStreet downgraded Medifast from a “b” rating to a “c+” rating in a research note on Tuesday, August 23rd. DA Davidson decreased their price target on Medifast from $352.00 to $278.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. StockNews.com upgraded Medifast from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Finally, Jefferies Financial Group downgraded Medifast from a “buy” rating to a “hold” rating and decreased their price target for the company from $345.00 to $150.00 in a research note on Thursday, August 4th.

Medifast Stock Performance

The firm has a fifty day moving average of $152.27 and a 200-day moving average of $169.56. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.88 and a beta of 1.18. The company has a quick ratio of 0.46, a current ratio of 1.29 and a debt-to-equity ratio of 0.18.

Medifast Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 8th. Investors of record on Tuesday, June 28th were issued a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, June 27th. This represents a $6.56 annualized dividend and a yield of 5.48%. Medifast’s dividend payout ratio is presently 48.66%.

Insider Buying and Selling

In other news, Director Jeffrey J. Brown acquired 3,940 shares of Medifast stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $126.54 per share, with a total value of $498,567.60. Following the completion of the acquisition, the director now owns 3,940 shares in the company, valued at approximately $498,567.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeffrey J. Brown acquired 3,940 shares of Medifast stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $126.54 per share, with a total value of $498,567.60. Following the completion of the acquisition, the director now owns 3,940 shares in the company, valued at approximately $498,567.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey J. Brown purchased 399 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was bought at an average cost of $146.01 per share, with a total value of $58,257.99. Following the completion of the acquisition, the director now owns 35,938 shares of the company’s stock, valued at $5,247,307.38. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medifast

A number of institutional investors have recently made changes to their positions in MED. Envestnet Asset Management Inc. raised its holdings in shares of Medifast by 16.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,169 shares of the specialty retailer’s stock worth $1,082,000 after acquiring an additional 730 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Medifast by 67.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,080 shares of the specialty retailer’s stock valued at $1,692,000 after purchasing an additional 3,250 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Medifast by 6.0% in the fourth quarter. First Republic Investment Management Inc. now owns 5,176 shares of the specialty retailer’s stock valued at $1,084,000 after purchasing an additional 293 shares during the last quarter. Baird Financial Group Inc. increased its stake in Medifast by 10.8% in the fourth quarter. Baird Financial Group Inc. now owns 9,415 shares of the specialty retailer’s stock valued at $1,972,000 after purchasing an additional 921 shares during the last quarter. Finally, WINTON GROUP Ltd increased its stake in Medifast by 4.8% in the fourth quarter. WINTON GROUP Ltd now owns 5,956 shares of the specialty retailer’s stock valued at $1,247,000 after purchasing an additional 273 shares during the last quarter. 87.66% of the stock is owned by institutional investors and hedge funds.

About Medifast

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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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