JPMorgan Chase & Co. Increases Stake in MEDIFAST INC (MED)

JPMorgan Chase & Co. Increases Stake in MEDIFAST INC (MED)

JPMorgan Chase & Co. boosted its stake in MEDIFAST INC (NYSE:MED) by 0.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 32,247 shares of the company’s stock after buying an additional 123 shares during the period. JPMorgan Chase & Co.’s holdings in MEDIFAST INC were worth $1,218,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Numeric Investors LLC boosted its stake in MEDIFAST INC by 4.4% in the second quarter. Numeric Investors LLC now owns 665,382 shares of the company’s stock valued at $22,137,000 after buying an additional 28,296 shares during the period. BlackRock Fund Advisors boosted its stake in MEDIFAST INC by 1.6% in the second quarter. BlackRock Fund Advisors now owns 659,384 shares of the company’s stock valued at $21,938,000 after buying an additional 10,130 shares during the period. Vanguard Group Inc. boosted its stake in MEDIFAST INC by 5.0% in the second quarter. Vanguard Group Inc. now owns 587,590 shares of the company’s stock valued at $19,550,000 after buying an additional 28,111 shares during the period. Dimensional Fund Advisors LP boosted its stake in MEDIFAST INC by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 562,135 shares of the company’s stock valued at $18,702,000 after buying an additional 57,326 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in MEDIFAST INC by 12.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 357,300 shares of the company’s stock valued at $11,887,000 after buying an additional 40,485 shares during the period. Institutional investors own 87.74% of the company’s stock.

MEDIFAST INC (NYSE:MED) traded down 0.05% during mid-day trading on Friday, hitting $41.62. 18,563 shares of the stock traded hands. MEDIFAST INC has a 1-year low of $27.12 and a 1-year high of $43.15. The stock has a 50-day moving average of $41.48 and a 200 day moving average of $38.61. The firm has a market cap of $493.11 million, a price-to-earnings ratio of 28.22 and a beta of 0.64.

MEDIFAST INC (NYSE:MED) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $68.57 million for the quarter, compared to analyst estimates of $66.79 million. MEDIFAST INC had a net margin of 6.43% and a return on equity of 24.64%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities analysts expect that MEDIFAST INC will post $1.88 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 9th. Investors of record on Friday, December 23rd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, December 21st. This is a positive change from MEDIFAST INC’s previous quarterly dividend of $0.25. MEDIFAST INC’s payout ratio is 85.91%.

In related news, Director Glenn W. Welling purchased 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was acquired at an average price of $39.02 per share, for a total transaction of $1,365,700.00. Following the completion of the purchase, the director now owns 2,670 shares in the company, valued at $104,183.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey J. Brown purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average price of $38.71 per share, with a total value of $387,100.00. Following the purchase, the director now owns 13,254 shares of the company’s stock, valued at approximately $513,062.34. The disclosure for this purchase can be found here. 6.47% of the stock is currently owned by insiders.

About MEDIFAST INC

Medifast, Inc (Medifast) is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and diet products. The Company operates through its subsidiaries, Jason Pharmaceuticals, Inc, Take Shape For Life, Inc, Jason Enterprises, Inc, Medifast Franchise Systems (MFSI), Inc, Jason Properties, LLC, Medifast Nutrition, Inc and Seven Crondall, LLC.

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