Medifast, Inc. (NYSE:MED) Shares Sold by Axa S.A.

Axa S.A. cut its stake in shares of Medifast, Inc. (NYSE:MED) by 12.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,000 shares of the specialty retailer’s stock after selling 2,900 shares during the quarter. Axa S.A. owned approximately 0.18% of Medifast worth $5,943,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. grew its holdings in Medifast by 31.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 45,150 shares of the specialty retailer’s stock worth $5,758,000 after acquiring an additional 10,792 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Medifast by 7.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,244 shares of the specialty retailer’s stock worth $263,000 after purchasing an additional 83 shares in the last quarter. CIBC World Markets Inc. grew its stake in shares of Medifast by 7.4% during the first quarter. CIBC World Markets Inc. now owns 2,416 shares of the specialty retailer’s stock worth $512,000 after purchasing an additional 166 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Medifast in the first quarter valued at $248,000. Finally, Sei Investments Co. raised its stake in Medifast by 3.0% in the first quarter. Sei Investments Co. now owns 31,715 shares of the specialty retailer’s stock valued at $6,615,000 after buying an additional 924 shares in the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

In other news, Director Kevin G. Byrnes sold 673 shares of the business’s stock in a transaction dated Friday, August 20th. The shares were sold at an average price of $221.99, for a total transaction of $149,399.27. Following the transaction, the director now directly owns 8,154 shares in the company, valued at $1,810,106.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey J. Brown acquired 142 shares of Medifast stock in a transaction that occurred on Friday, August 6th. The stock was purchased at an average price of $286.16 per share, with a total value of $40,634.72. Following the transaction, the director now owns 765 shares of the company’s stock, valued at $218,912.40. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently weighed in on MED shares. Zacks Investment Research lowered Medifast from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Tuesday, October 5th. DA Davidson reissued a “buy” rating and set a C$395.00 price objective on shares of Medifast in a report on Monday, August 23rd.

Shares of NYSE MED opened at $190.33 on Thursday. The business has a 50-day moving average price of $221.45 and a 200 day moving average price of $253.82. The stock has a market cap of $2.23 billion, a PE ratio of 15.00 and a beta of 1.39. Medifast, Inc. has a 52-week low of $139.59 and a 52-week high of $336.99.

Medifast (NYSE:MED) last posted its quarterly earnings data on Wednesday, August 4th. The specialty retailer reported $3.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.30 by $0.66. The business had revenue of $394.20 million during the quarter, compared to the consensus estimate of $359.25 million. Medifast had a return on equity of 90.26% and a net margin of 11.84%. The company’s revenue was up 79.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, research analysts forecast that Medifast, Inc. will post 13.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 8th. Shareholders of record on Tuesday, September 21st will be paid a $1.42 dividend. The ex-dividend date is Monday, September 20th. This represents a $5.68 dividend on an annualized basis and a yield of 2.98%. Medifast’s dividend payout ratio is presently 62.14%.

Medifast Profile

Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand-a highly competitive and effective lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The company was founded by William Vitale in 1981 and is headquartered in Baltimore, MD.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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