JPMorgan Chase & Co. lifted its holdings in shares of Medifast Inc (NYSE:MED) by 217.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,813 shares of the specialty retailer’s stock after purchasing an additional 108,736 shares during the quarter. JPMorgan Chase & Co. owned about 1.33% of Medifast worth $9,468,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MED. Acrospire Investment Management LLC purchased a new position in Medifast in the second quarter valued at about $108,000. Sei Investments Co. raised its position in Medifast by 95.9% in the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock valued at $163,000 after purchasing an additional 1,920 shares during the period. BNP Paribas Arbitrage SA raised its position in Medifast by 86.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock valued at $174,000 after purchasing an additional 1,939 shares during the period. AHL Partners LLP purchased a new position in Medifast in the second quarter valued at about $241,000. Finally, Macquarie Group Ltd. purchased a new position in Medifast in the third quarter valued at about $267,000. Institutional investors and hedge funds own 86.91% of the company’s stock.

Several research analysts have commented on the company. DA Davidson raised their price objective on Medifast to $89.00 and gave the company a “buy” rating in a research report on Friday, December 8th. ValuEngine lowered Medifast from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Friday, November 10th. Finally, Sidoti reaffirmed a “neutral” rating and set a $55.00 target price (up from $49.00) on shares of Medifast in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $74.33.

In related news, Director Glenn W. Welling sold 275,000 shares of Medifast stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $64.60, for a total value of $17,765,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn W. Welling sold 250,000 shares of Medifast stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $65.00, for a total value of $16,250,000.00. The disclosure for this sale can be found here. 6.47% of the stock is currently owned by insiders.

Shares of Medifast Inc (MED) opened at $72.64 on Monday. Medifast Inc has a 52-week low of $40.00 and a 52-week high of $74.78. The stock has a market capitalization of $873.84, a PE ratio of 35.61, a PEG ratio of 2.21 and a beta of 0.51.

Medifast (NYSE:MED) last announced its earnings results on Tuesday, November 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping 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 business had revenue of $77.20 million for the quarter, compared to analyst estimates of $74.94 million. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. analysts predict that Medifast Inc will post 2.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.64%. This is a positive change from Medifast’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, December 21st. Medifast’s payout ratio is presently 94.12%.

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Medifast Company Profile

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.

Institutional Ownership by Quarter for Medifast (NYSE:MED)

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