A Director at Medifast Inc (NYSE: MED) is Buying Shares

By Carrie Williams

Today, a Director at Medifast Inc (NYSE: MED), Glenn Welling, bought shares of MED for $1.37M.

This recent transaction increases Glenn Welling’s holding in the company by 49.41% to a total of $21.25 million. Following Glenn Welling’s last MED Buy transaction on June 03, 2016, the stock climbed by 6.7%.

Based on Medifast Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $68.58 million and quarterly net profit of $6.07 million. In comparison, last year the company earned revenue of $65.94 million and had a net profit of $5.51 million. The company has a one year high of $42.14 and a one year low of $27.12. MED’s market cap is $464.3M and the company has a P/E ratio of 26.40.

Four different firms, including Canaccord Genuity and Standpoint Research, currently also have a Buy rating on the stock.

The insider sentiment on Medifast Inc has been positive according to 36 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Medifast, Inc. is engaged in the production, distribution, and sale of weight loss and weight management products and other consumable health and diet products. Its product lines include weight loss and management, meal replacement, and vitamins. The company was founded by William Vitale in 1980 and is headquartered in Owings Mills, MD.