Medifast (NYSE:MED) Stock: Insider Parsa Kiai Purchases 5,557 Shares

Medifast Inc (NYSE:MED) Director Parsa Kiai bought 5,557 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were purchased at an average cost of $12.24 per share, with a total value of $68,017.68. Following the transaction, the director owned 712,891 shares in the company, valued at approximately $8,725,785.84. The trade was a 0.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Parsa Kiai also recently made the following trade(s):

• On Wednesday, August 26th, Parsa Kiai purchased 43,150 shares of Medifast stock. The shares were purchased at an average price of $12.26 per share, with a total value of $529,019.00.
• On Monday, August 24th, Parsa Kiai purchased 4,329 shares of Medifast stock. The shares were purchased at an average price of $12.00 per share, with a total value of $51,948.00.
• On Thursday, August 20th, Parsa Kiai purchased 43,150 shares of Medifast stock. The stock was acquired at an average cost of $11.60 per share, for a total transaction of $500,540.00.
• On Wednesday, August 19th, Parsa Kiai acquired 29,337 shares of Medifast stock. The stock was acquired at an average price of $11.66 per share, for a total transaction of $342,069.42.

Medifast Stock Performance

Medifast stock opened at $12.37 on Friday. Medifast Inc has a 52 week low of $9.22 and a 52 week high of $13.45. The firm has a market capitalization of $138.30 million, a PE ratio of -3.35 and a beta of 0.68. The business’s 50-day simple moving average is $12.01 and its 200-day simple moving average is $11.33.

Medifast (NYSE:MED) last announced its earnings results on Monday, October 26th. The specialty retailer reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.16. The firm had revenue of $72.05 million during the quarter, compared to the consensus estimate of $71.30 million. Medifast had a negative return on equity of 6.90% and a negative net margin of 13.64%. Research analysts forecast that Medifast Inc will post -0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Medifast from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday. Zacks Research raised shares of Medifast from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.00.

Institutional Investors Weigh In On Medifast

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Medifast in the 2nd quarter worth approximately $3,920,000. Dimensional Fund Advisors LP grew its holdings in shares of Medifast by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 361,762 shares of the specialty retailer’s stock worth $3,686,000 after purchasing an additional 35,522 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Medifast during the 2nd quarter worth approximately $924,000. Empowered Funds LLC increased its position in shares of Medifast by 59.9% during the first quarter. Empowered Funds LLC now owns 71,584 shares of the specialty retailer’s stock valued at $729,000 after purchasing an additional 26,811 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of Medifast by 15.1% during the first quarter. Quantinno Capital Management LP now owns 56,153 shares of the specialty retailer’s stock valued at $572,000 after purchasing an additional 7,346 shares during the period. Institutional investors own 95.51% of the company’s stock.

About Medifast

Medifast, Inc (NYSE: MED) is a health and wellness company that provides weight-management products, programs and support services. Its primary brand, OPTAVIA, offers meal-replacement products, including shakes, bars, soups and other portion-controlled foods, along with structured plans intended to help customers establish healthier eating and lifestyle habits.

The company distributes its products primarily through an independent network of coaches who provide guidance, accountability and support to clients.