Today it was reported that a Director at Medifast Inc (NYSE: MED), Carl Sassano, exercised options to buy 5,000 MED shares at $31.55 a share, for a total transaction value of $157.8K.
Following Carl Sassano’s last MED Buy transaction on March 16, 2016, the stock climbed by 142.9%. Following this transaction Carl Sassano’s holding in the company was increased by 40.17% to a total of $2.96 million.
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Based on Medifast Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $98.6 million and quarterly net profit of $12.22 million. In comparison, last year the company earned revenue of $75.73 million and had a net profit of $7.58 million. MED’s market cap is $2.04B and the company has a P/E ratio of 62.73. Currently, Medifast Inc has an average volume of 252.1K.
Starting in August 2017, MED received 6 Buy ratings in a row. Five different firms, including Canaccord Genuity and D.A. Davidson, currently also have a Buy rating on the stock.
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Medifast, Inc. engages in the production, distribution, and sale of healthy living products and programs. It manufactures weight loss, weight management, and other consumable health and nutritional products. It operates through the following business units: OPTAVIA, Medifast Direct, Medifast Weight Control Centers (MWCC), and Medifast Wholesale.
