Medifast Inc (MED) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its position in Medifast Inc (NYSE:MED) by 28.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,800 shares of the specialty retailer’s stock after selling 7,000 shares during the quarter. Bessemer Group Inc.’s holdings in Medifast were worth $1,243,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in Medifast by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,352 shares of the specialty retailer’s stock valued at $346,000 after buying an additional 123 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Medifast by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,990 shares of the specialty retailer’s stock valued at $1,783,000 after buying an additional 247 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in Medifast by 9.4% in the second quarter. Thrivent Financial For Lutherans now owns 6,760 shares of the specialty retailer’s stock valued at $280,000 after buying an additional 580 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Medifast by 5.1% in the second quarter. New York State Common Retirement Fund now owns 13,761 shares of the specialty retailer’s stock valued at $571,000 after buying an additional 667 shares during the last quarter. Finally, First Quadrant L P CA increased its holdings in Medifast by 5.9% in the fourth quarter. First Quadrant L P CA now owns 12,388 shares of the specialty retailer’s stock valued at $865,000 after buying an additional 693 shares during the last quarter. 86.93% of the stock is owned by hedge funds and other institutional investors.

Medifast Inc (NYSE:MED) opened at $66.68 on Thursday. Medifast Inc has a 52 week low of $40.00 and a 52 week high of $74.78. The company has a market capitalization of $790.13, a P/E ratio of 32.62, a price-to-earnings-growth ratio of 1.70 and a beta of 0.54.

Medifast (NYSE:MED) last issued its earnings results on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. Medifast had a return on equity of 24.07% and a net margin of 8.58%. The company had revenue of $77.20 million during the quarter, compared to the consensus estimate of $74.94 million. During the same period in the previous year, the firm posted $0.51 earnings per share. Medifast’s quarterly revenue was up 12.5% compared to the same quarter last year. research analysts forecast that Medifast Inc will post 2.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Friday, December 22nd will be paid a $0.48 dividend. This is an increase from Medifast’s previous quarterly dividend of $0.32. This represents a $1.92 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, December 21st. Medifast’s payout ratio is presently 94.58%.

In other Medifast news, Director Glenn W. Welling sold 250,000 shares of Medifast stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $65.00, for a total value of $16,250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn W. Welling sold 275,000 shares of Medifast stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $64.60, for a total value of $17,765,000.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Several analysts recently weighed in on MED shares. DA Davidson boosted their price objective on Medifast to $89.00 and gave the company a “buy” rating in a report on Friday, December 8th. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Friday, January 5th. Finally, ValuEngine lowered Medifast from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $75.00.

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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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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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