First Trust Advisors LP Acquires 159,817 Shares of Medifast, Inc. (NYSE:MED)

First Trust Advisors LP grew its position in shares of Medifast, Inc. (NYSE:MEDFree Report) by 67.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 397,443 shares of the specialty retailer’s stock after buying an additional 159,817 shares during the quarter. First Trust Advisors LP owned 3.65% of Medifast worth $26,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Medifast by 62.9% during the fourth quarter. Pacer Advisors Inc. now owns 522,732 shares of the specialty retailer’s stock valued at $35,138,000 after buying an additional 201,752 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Medifast by 12.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 186,244 shares of the specialty retailer’s stock valued at $12,519,000 after buying an additional 20,034 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Medifast by 110.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 129,650 shares of the specialty retailer’s stock valued at $9,704,000 after buying an additional 67,951 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Medifast by 18.7% during the third quarter. AQR Capital Management LLC now owns 121,671 shares of the specialty retailer’s stock valued at $9,107,000 after buying an additional 19,192 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Medifast by 21.5% during the fourth quarter. UBS Group AG now owns 92,044 shares of the specialty retailer’s stock valued at $6,187,000 after buying an additional 16,260 shares during the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Medifast Trading Down 1.7 %

Shares of MED stock opened at $21.10 on Tuesday. Medifast, Inc. has a 12-month low of $19.90 and a 12-month high of $109.52. The firm’s 50 day moving average is $28.01 and its 200 day moving average is $45.03. The stock has a market capitalization of $230.77 million, a P/E ratio of 3.40 and a beta of 1.16.

Medifast (NYSE:MEDGet Free Report) last issued its earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.12). Medifast had a return on equity of 36.64% and a net margin of 7.55%. The company had revenue of $174.74 million during the quarter, compared to analysts’ expectations of $168.90 million. During the same quarter in the prior year, the business posted $3.67 EPS. The company’s revenue for the quarter was down 49.9% compared to the same quarter last year. As a group, equities analysts predict that Medifast, Inc. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MED. TheStreet cut shares of Medifast from a “c” rating to a “d+” rating in a report on Wednesday, February 21st. DA Davidson cut shares of Medifast from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $25.00 to $17.50 in a report on Wednesday, June 5th.

View Our Latest Report on Medifast

Medifast Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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