Medifast (NYSE:MED) Director Parsa Kiai Acquires 5,557 Shares of Company Stock

Medifast Inc (NYSE:MED) Director Parsa Kiai bought 5,557 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $12.24 per share, with a total value of $68,017.68. Following the completion of the transaction, the director owned 712,891 shares of the company’s stock, valued at $8,725,785.84. This represents a 0.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Parsa Kiai also recently made the following trade(s):

• On Wednesday, August 26th, Parsa Kiai bought 43,150 shares of Medifast stock. The stock was acquired at an average price of $12.26 per share, for a total transaction of $529,019.00.
• On Monday, August 24th, Parsa Kiai bought 4,329 shares of Medifast stock. The stock was acquired at an average price of $12.00 per share, for a total transaction of $51,948.00.
• On Thursday, August 20th, Parsa Kiai purchased 43,150 shares of Medifast stock. The stock was acquired at an average cost of $11.60 per share, for a total transaction of $500,540.00.
• On Wednesday, August 19th, Parsa Kiai purchased 29,337 shares of Medifast stock. The stock was acquired at an average cost of $11.66 per share, for a total transaction of $342,069.42.

Medifast Trading Up 0.9%

MED stock opened at $12.37 on Friday. Medifast Inc has a 52-week low of $9.22 and a 52-week high of $13.45. The business has a 50-day simple moving average of $12.01 and a two-hundred day simple moving average of $11.33.

Medifast (NYSE:MED) last issued its quarterly earnings data on Monday, October 26th. The specialty retailer reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.16. Medifast had a negative return on equity of 6.90% and a negative net margin of 13.64%. The firm had revenue of $72.05 million during the quarter, compared to analyst estimates of $71.30 million. On average, equities research analysts anticipate that Medifast Inc will post -0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings cut Medifast from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday. Zacks Research raised shares of Medifast from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Medifast currently has an average rating of “Hold” and an average target price of $12.00.

Institutional Investors Weigh In On Medifast

Several institutional investors and hedge funds have recently added to or reduced their stakes in MED. Engineers Gate Manager LP lifted its position in shares of Medifast by 25.9% during the 2nd quarter. Engineers Gate Manager LP now owns 49,829 shares of the specialty retailer’s stock worth $529,000 after buying an additional 10,249 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Medifast in the second quarter valued at approximately $214,000. Chico Wealth RIA bought a new position in shares of Medifast in the second quarter valued at approximately $223,000. Ancora Advisors LLC bought a new position in shares of Medifast in the second quarter valued at approximately $75,000. Finally, Empowered Funds LLC purchased a new stake in shares of Medifast during the second quarter valued at approximately $701,000. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Medifast Company Profile

Medifast, Inc (NYSE: MED) is a health and wellness company that provides weight-management products, programs and support services. Its primary brand, OPTAVIA, offers meal-replacement products, including shakes, bars, soups and other portion-controlled foods, along with structured plans intended to help customers establish healthier eating and lifestyle habits.

The company distributes its products primarily through an independent network of coaches who provide guidance, accountability and support to clients.