Swiss National Bank Raises Position in Medifast, Inc. (NYSE:MED)

Swiss National Bank lifted its stake in Medifast, Inc. (NYSE:MEDGet Rating) by 4.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,200 shares of the specialty retailer’s stock after acquiring an additional 1,100 shares during the quarter. Swiss National Bank’s holdings in Medifast were worth $4,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MED. BlackRock Inc. boosted its holdings in Medifast by 6.9% in the first quarter. BlackRock Inc. now owns 2,134,513 shares of the specialty retailer’s stock valued at $364,532,000 after purchasing an additional 138,602 shares during the last quarter. Candlestick Capital Management LP purchased a new position in Medifast in the first quarter valued at about $13,156,000. American Century Companies Inc. boosted its holdings in Medifast by 2,311.6% in the first quarter. American Century Companies Inc. now owns 63,185 shares of the specialty retailer’s stock valued at $10,791,000 after purchasing an additional 60,565 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Medifast by 80.1% during the 2nd quarter. Victory Capital Management Inc. now owns 128,803 shares of the specialty retailer’s stock worth $23,250,000 after buying an additional 57,300 shares during the last quarter. Finally, Cooper Creek Partners Management LLC lifted its holdings in Medifast by 60.6% during the 1st quarter. Cooper Creek Partners Management LLC now owns 149,863 shares of the specialty retailer’s stock worth $25,594,000 after buying an additional 56,547 shares during the last quarter. Hedge funds and other institutional investors own 87.66% of the company’s stock.

Insider Transactions at Medifast

In other Medifast news, Director Jeffrey J. Brown bought 561 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $105.06 per share, for a total transaction of $58,938.66. Following the transaction, the director now directly owns 36,499 shares in the company, valued at $3,834,584.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Medifast Trading Up 0.5 %

Shares of Medifast stock opened at $120.30 on Friday. The business’s 50 day simple moving average is $114.94 and its 200-day simple moving average is $144.96. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.12 and a beta of 1.18. Medifast, Inc. has a twelve month low of $96.00 and a twelve month high of $221.99.

Medifast Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Tuesday, September 20th were given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend was Monday, September 19th. Medifast’s payout ratio is 49.73%.

Wall Street Analyst Weigh In

A number of research firms have commented on MED. Jefferies Financial Group downgraded Medifast from a “buy” rating to a “hold” rating and reduced their target price for the stock from $345.00 to $150.00 in a report on Thursday, August 4th. StockNews.com downgraded Medifast from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. DA Davidson downgraded Medifast from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $278.00 to $106.00 in a report on Friday, November 4th. Finally, TheStreet downgraded Medifast from a “b” rating to a “c+” rating in a report on Tuesday, August 23rd.

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.

Further Reading

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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