MEDIFAST INC (MED) SEC Filings

MEDIFAST INC (MED) director Kiai Parsa reported indirect open-market purchases of MED common stock on August 24, 2026. Entities associated with him bought 4,329 shares in total at an average price of $11.9996 per share, with actual prices ranging from $11.99 to $12. The purchases were made through Steamboat Capital-related funds, and Parsa may be deemed to have a pecuniary interest in those shares, while disclaiming beneficial ownership beyond that interest.

MEDIFAST INC (MED) received an amended Schedule 13D (Amendment No. 1) from Steamboat Capital Partners, LLC and its managing member, Parsa Kiai, reporting a significant ownership position in the company’s common stock.

Steamboat Capital and Kiai may be deemed to beneficially own 790,693 shares of MED common stock, representing 7.1% of the class, based on 11,180,703 shares outstanding as of July 27, 2026. The shares were acquired for an aggregate purchase price of approximately $8,360,835, funded with client working capital, which may include margin loans, through open-market purchases. Recent reported trades include purchases of 33,994 shares at a weighted average $11.657605 on August 19, 2026 and 50,000 shares at a weighted average $11.60369 on August 20, 2026. Voting and dispositive power over these shares is held by Steamboat Capital and Kiai for the benefit of their clients, and they specifically disclaim beneficial ownership of securities not directly owned.

MEDIFAST INC (MED) director Parsa Kiai reported indirect open-market purchases of MED common stock on August 19–20, 2026. Entities associated with him bought a total of 72,487 shares at weighted-average prices of $11.6576 and $11.6037 per share. The positions are held by Steamboat Capital funds, over which affiliated entities have investment discretion. Kiai may be deemed to have a pecuniary interest in these shares but disclaims beneficial ownership except to that extent. The trades were not reported as made under a Rule 10b5-1 trading plan.

Medifast Inc. received an amended Schedule 13G from a group of Citadel-related entities and Kenneth Griffin regarding ownership of its common stock. The reporting persons, including Citadel Securities LLC, Citadel Securities Group LP, Citadel Advisors LLC and related entities, plus Mr. Griffin, report beneficial ownership well below 5% of Medifast’s shares.

Citing 11,119,115 Shares outstanding as of April 27, 2026, Citadel Securities LLC may be deemed to beneficially own 233,401 Shares (2.1%), certain Citadel Securities Group entities 236,447 Shares (2.1%), certain Citadel Advisors entities 53,304 Shares (0.5%), and Kenneth Griffin 289,751 Shares (2.6%), all with shared and no sole voting or dispositive power. The filing confirms ownership of 5 percent or less of the class.

Medifast, Inc. is reported to have a significant shareholder group composed of Susquehanna Portfolio Strategies, LLC and Susquehanna Securities, LLC. Together, these Reporting Persons report beneficial ownership of 587,214 shares of Medifast common stock, representing 5.3% of the outstanding shares as of June 30, 2026.

Susquehanna Securities, LLC’s reported holdings include options to buy 542,700 shares. Based on the company’s Form 10-Q, there were 11,181,000 shares outstanding as of June 30, 2026. Each Reporting Person reports sole voting and dispositive power over the shares it directly owns, and shared voting and dispositive power over all shares beneficially owned by the Reporting Persons, while disclaiming beneficial ownership of shares directly owned by the other.

Charles Schwab Investment Management Inc., a Delaware entity, reported beneficial ownership of common stock of Medifast Inc. This ownership amounts to 396,996 shares, representing 3.6% of Medifast’s common stock. All of these shares are reported with sole voting and sole dispositive power, with no shared voting or shared dispositive power.

Medifast, Inc. reported sharply lower results for the quarter ended June 30, 2026. Revenue fell 27.6% to $76.4 million, driving a net loss of $3.1 million, or $0.28 per diluted share, compared with net income of $2.5 million and $0.22 per diluted share a year earlier. For the first six months of 2026, revenue declined to $152.4 million and the company recorded a $5.2 million net loss. Gross margin compressed to 69.9% in the quarter as lower volumes reduced leverage on fixed costs, while SG&A fell in dollars but rose to 75.6% of revenue, widening the operating loss to 5.7% of sales.

Performance was pressured by a drop in active earning coaches to about 11,700 from 22,800, reflecting weaker client acquisition amid rapid adoption of GLP‑1 weight‑loss medications and a focus on more productive coach structures. Medifast states that active earning coaches are expected to continue declining in 2026, although average quarterly revenue per active coach increased to $6,529, supported by this network realignment.

Strategically, the company is transitioning from its OPTAVIA brand to Trilivy, a broader metabolic‑health platform built around its Metabolic Synchronization® science, new Trilivy Reset fuelings with MetaVantage Technology™, and the Medifast Metabolic Health Institute. Despite current losses, Medifast reports $169.8 million in cash, cash equivalents and investment securities, working capital of $160.5 million, and stockholders’ equity of $196.4 million, supporting its transformation initiatives.

Medifast reported second quarter 2026 revenue of $76.4 million, a 27.6% decline from $105.6 million a year earlier, and a net loss of $3.1 million, or $0.28 per diluted share, compared with net income of $2.5 million, or $0.22 per share, in 2025.

The number of independent active earning coaches fell 48.7% to 11,700, reflecting pressure on client acquisition amid rapid adoption of GLP-1 medications for weight loss. Productivity improved, with average revenue per active earning coach rising 41.0% to $6,529. Gross profit was $53.4 million with a 69.9% margin, while SG&A expenses decreased to $57.7 million but increased to 75.6% of revenue.

Management highlighted transformation initiatives including the Trilivy brand, Reset Fuelings, the Medifast Metabolic Health Institute, and a new Catalyst cost-savings program focused on facility rationalization and AI-related efficiencies. The company held $169.8 million in cash, cash equivalents and investments with no debt and working capital of $160.5 million as of June 30, 2026. It expects Q3 2026 revenue of $60 million to $80 million and a loss per share of $0.15 to $0.65, and expects full-year 2026 revenue of $270 million to $300 million and a loss per share of $0.25 to $1.75, while management believes it is on track to return to profitability in the fourth quarter.

BlackRock, Inc. reports beneficial ownership of 327,404 shares of Medifast, Inc. common stock, representing 2.9% of the class as of June 30, 2026. BlackRock has sole voting and dispositive power over all 327,404 shares and no shared voting or dispositive power. The filing notes that the position represents ownership of 5 percent or less of Medifast’s outstanding common stock. Various underlying persons have rights to dividends or sale proceeds for these shares, but no single person has an interest greater than five percent of Medifast’s total outstanding common shares.