Medifast director Daniel Chard sells $226,288 in company shares
Daniel R. Chard, a director at Medifast Inc. (NASDAQ:MED), recently sold shares of the company's common stock in late September 2026. The sales totaled $226,288. On September 28, Chard disposed of 9,545 shares at a weighted-average price of $11.9788 per share. The next day, September 29, he sold an additional 9,544 shares at a weighted-average price of $11.73 per share.
The company's stock has been trading near $11.52, down 15% over the past year. Medifast has faced challenges with revenue declining 34% over the last twelve months, and analysts do not anticipate profitability this year. Despite these challenges, an analysis from InvestingPro suggests the stock is undervalued at current levels, with significant upside potential.
Daniel R. Chard currently holds 188,233 shares directly and has indirect ownership through The Dan and Allyson Family Irrevocable Trust and a joint account with his spouse. Medifast reported better-than-expected financial results for the second quarter of 2026, with a loss of $0.28 per share and revenue surpassing expectations at $76.4 million. These positive developments have garnered attention from investors and analysts.
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