Medifast, Inc. (NYSE:MED) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Medifast, Inc. (NYSE:MED) by 53.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,628 shares of the specialty retailer’s stock after purchasing an additional 911 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Medifast were worth $177,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System acquired a new stake in shares of Medifast during the 4th quarter worth $370,000. Allspring Global Investments Holdings LLC increased its stake in Medifast by 36.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,283 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 3,299 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Medifast in the 4th quarter worth about $752,000. Denali Advisors LLC acquired a new position in shares of Medifast in the 4th quarter valued at about $1,466,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Medifast by 62.9% during the 4th quarter. Pacer Advisors Inc. now owns 522,732 shares of the specialty retailer’s stock worth $35,138,000 after purchasing an additional 201,752 shares during the period. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Medifast Price Performance

Shares of NYSE MED opened at $25.51 on Wednesday. Medifast, Inc. has a 1-year low of $24.58 and a 1-year high of $109.52. The company has a market capitalization of $279.08 million, a price-to-earnings ratio of 4.11 and a beta of 1.19. The business has a 50-day moving average of $34.33 and a 200-day moving average of $52.41.

Medifast (NYSE:MED) last announced its earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). Medifast had a return on equity of 36.64% and a net margin of 7.55%. The business had revenue of $174.74 million for the quarter, compared to analysts’ expectations of $168.90 million. During the same period in the previous year, the firm posted $3.67 earnings per share. The firm’s revenue was down 49.9% compared to the same quarter last year. Research analysts expect that Medifast, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. DA Davidson cut their price target on shares of Medifast from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. TheStreet lowered shares of Medifast from a “c” rating to a “d+” rating in a research report on Wednesday, February 21st.

Insider Activity

In other Medifast news, Director Scott Schlackman sold 4,053 shares of Medifast stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $39.44, for a total value of $159,850.32. Following the completion of the transaction, the director now directly owns 7,785 shares in the company, valued at $307,040.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.06% of the company’s stock.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.