Teacher Retirement System of Texas Buys 207 Shares of Medifast, Inc. (NYSE:MED)

Teacher Retirement System of Texas increased its stake in shares of Medifast, Inc. (NYSE:MED) by 17.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,376 shares of the specialty retailer’s stock after acquiring an additional 207 shares during the quarter. Teacher Retirement System of Texas’ holdings in Medifast were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. grew its position in Medifast by 26.5% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 40 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Medifast by 7.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,244 shares of the specialty retailer’s stock worth $263,000 after acquiring an additional 83 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Medifast by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,297 shares of the specialty retailer’s stock worth $1,216,000 after buying an additional 97 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Medifast by 6.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 1,571 shares of the specialty retailer’s stock worth $333,000 after buying an additional 99 shares during the period. Finally, Advisor Group Holdings Inc. lifted its holdings in Medifast by 4.2% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,631 shares of the specialty retailer’s stock worth $746,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.

Separately, DA Davidson reiterated a “buy” rating and issued a C$395.00 price objective on shares of Medifast in a report on Monday, August 23rd.

In other news, Director Jeffrey J. Brown bought 142 shares of the stock in a transaction dated Friday, August 6th. The stock was bought at an average price of $286.16 per share, for a total transaction of $40,634.72. Following the purchase, the director now directly owns 765 shares in the company, valued at approximately $218,912.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin G. Byrnes sold 673 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $221.99, for a total value of $149,399.27. Following the completion of the transaction, the director now owns 8,154 shares of the company’s stock, valued at approximately $1,810,106.46. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

NYSE MED opened at $219.22 on Wednesday. Medifast, Inc. has a fifty-two week low of $139.59 and a fifty-two week high of $336.99. The stock has a 50 day simple moving average of $252.07 and a two-hundred day simple moving average of $259.72. The stock has a market cap of $2.57 billion, a P/E ratio of 17.28 and a beta of 1.39.

Medifast (NYSE:MED) last released its earnings results on Wednesday, August 4th. The specialty retailer reported $3.96 EPS for the quarter, beating the Zacks’ consensus estimate of $3.30 by $0.66. The company had revenue of $394.20 million during the quarter, compared to analysts’ expectations of $359.25 million. Medifast had a return on equity of 90.26% and a net margin of 11.84%. The firm’s revenue for the quarter was up 79.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 EPS. Equities analysts forecast that Medifast, Inc. will post 13.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 8th. Stockholders of record on Tuesday, September 21st will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Monday, September 20th. Medifast’s 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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