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Medifast

MED on NYSE. Market value $130m.

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Should I look at this?

We have not checked this company yet

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 113 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%; 2 of them are pushing for change.

  • Steamboat Capital Partners, LLC
    Activist
    Wants board seats
    at least 7.1%+1.1 pts
    (filed with 1 related holder)
    Since 20 August 2026
  • at least 7.0%−1.1 pts
    (filed with 1 related holder)
    Since 2 January 2026
  • Parsa Kiai
    Activist
    Wants board seats
    6.0%
    Since 13 March 2026
    What they said

    The Reporting Persons purchased the Shares as to which this report on Schedule 13D is being filed based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. In connection therewith, on March 19,…

    Read the filing
  • Susquehanna Portfolio Strategies, LLC
    Passive investor
    at least 5.3%+3.9 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • Kenneth Griffin
    Passive investor
    at least 2.6%−3.9 pts
    (filed with 6 related holders)
    Since 30 June 2026
  • Sold down below 5%
    Since 30 June 2026
  • BlackRock, Inc.
    Passive investor
    Sold down below 5%
    Since 30 June 2026
  • G1 Execution Services, LLC
    Passive investor
    Sold down below 5%
    Since 31 December 2025
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 3 insiders bought $2m of shares on the open market. 1 sold $226,289, $226,289 of it under preset trading plans.

  • Chard Daniel R
    Director
    Sold
    under a preset trading plan
    Date
    29 September 2026
    Shares
    9,544
    Price
    $11.73
    Value
    $111,951
  • Chard Daniel R
    Director
    Sold
    under a preset trading plan
    Date
    28 September 2026
    Shares
    9,545
    Price
    $11.98
    Value
    $114,338
  • Kiai Parsa
    Director
    Bought
    Date
    26 August 2026
    Shares
    43,150
    Price
    $12.26
    Value
    $529,157
  • Kiai Parsa
    Director
    Bought
    Date
    24 August 2026
    Shares
    4,329
    Price
    $12.00
    Value
    $51,946
  • Kiai Parsa
    Director
    Bought
    Date
    20 August 2026
    Shares
    43,150
    Price
    $11.60
    Value
    $500,700
  • Kiai Parsa
    Director
    Bought
    Date
    19 August 2026
    Shares
    29,337
    Price
    $11.66
    Value
    $341,999
  • SCHLACKMAN SCOTT
    Director
    Bought
    Date
    11 May 2026
    Shares
    2,500
    Price
    $12.53
    Value
    $31,325
  • SCHLACKMAN SCOTT
    Director
    Bought
    Date
    8 May 2026
    Shares
    2,500
    Price
    $12.65
    Value
    $31,625
  • Chard Daniel R
    Chairman & CEO, Director
    Bought
    Date
    20 March 2026
    Shares
    17,678
    Price
    $10.11
    Value
    $178,725

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 17 Feb 2026, plus the 10-Q filed 3 Aug 2026 and 6 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.