Comerica Bank Has $959,000 Holdings in Medifast, Inc. (NYSE:MED)

Comerica Bank cut its holdings in Medifast, Inc. (NYSE:MEDGet Rating) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,436 shares of the specialty retailer’s stock after selling 1,385 shares during the quarter. Comerica Bank owned 0.08% of Medifast worth $959,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MED. Raymond James & Associates lifted its stake in Medifast by 437.5% in the first quarter. Raymond James & Associates now owns 14,550 shares of the specialty retailer’s stock valued at $2,485,000 after buying an additional 11,843 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Medifast by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,488 shares of the specialty retailer’s stock worth $254,000 after purchasing an additional 64 shares during the period. HighTower Advisors LLC raised its position in shares of Medifast by 3.4% during the first quarter. HighTower Advisors LLC now owns 2,600 shares of the specialty retailer’s stock worth $443,000 after purchasing an additional 86 shares during the period. Cetera Advisor Networks LLC raised its position in shares of Medifast by 7.0% during the first quarter. Cetera Advisor Networks LLC now owns 3,077 shares of the specialty retailer’s stock worth $526,000 after purchasing an additional 200 shares during the period. Finally, Citigroup Inc. raised its position in shares of Medifast by 19.1% during the first quarter. Citigroup Inc. now owns 13,490 shares of the specialty retailer’s stock worth $2,304,000 after purchasing an additional 2,166 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MED shares. DA Davidson lowered Medifast from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $278.00 to $106.00 in a research report on Friday, November 4th. StockNews.com raised Medifast from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd.

Medifast Trading Down 5.3 %

Shares of Medifast stock opened at $113.37 on Wednesday. The stock has a fifty day simple moving average of $119.01 and a 200 day simple moving average of $126.68. Medifast, Inc. has a 12-month low of $96.00 and a 12-month high of $204.14. The company has a market capitalization of $1.24 billion, a P/E ratio of 8.60 and a beta of 1.18.

Medifast (NYSE:MEDGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The specialty retailer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $1.41. Medifast had a return on equity of 89.82% and a net margin of 9.22%. The business had revenue of $390.40 million during the quarter. On average, analysts predict that Medifast, Inc. will post 13 EPS for the current year.

Medifast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 7th. Investors of record on Tuesday, December 20th will be issued a dividend of $1.64 per share. The ex-dividend date is Monday, December 19th. This represents a $6.56 annualized dividend and a yield of 5.79%. Medifast’s dividend payout ratio (DPR) is currently 49.73%.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown purchased 561 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was acquired at an average price of $105.06 per share, for a total transaction of $58,938.66. Following the completion of the acquisition, the director now owns 36,499 shares of the company’s stock, valued at approximately $3,834,584.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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