Medifast, Inc. (NYSE:MED) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Medifast, Inc. (NYSE:MEDFree Report) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,686,957 shares of the specialty retailer’s stock after purchasing an additional 113,734 shares during the period. Vanguard Group Inc. owned approximately 15.48% of Medifast worth $113,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new stake in shares of Medifast in the fourth quarter valued at approximately $783,000. Optimist Retirement Group LLC acquired a new stake in shares of Medifast in the fourth quarter valued at approximately $1,342,000. First Trust Advisors LP increased its holdings in shares of Medifast by 67.3% in the fourth quarter. First Trust Advisors LP now owns 397,443 shares of the specialty retailer’s stock valued at $26,716,000 after purchasing an additional 159,817 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Medifast in the fourth quarter valued at approximately $692,000. Finally, Aigen Investment Management LP increased its holdings in shares of Medifast by 5.7% in the fourth quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock valued at $249,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Medifast Stock Down 5.5 %

MED stock opened at $18.69 on Friday. The business has a fifty day moving average of $23.17 and a two-hundred day moving average of $38.68. The stock has a market cap of $204.47 million, a price-to-earnings ratio of 3.01 and a beta of 1.15. Medifast, Inc. has a 52-week low of $18.66 and a 52-week high of $109.52.

Medifast (NYSE:MEDGet Free Report) last posted 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). The business had revenue of $174.74 million for the quarter, compared to analyst estimates of $168.90 million. Medifast had a return on equity of 36.64% and a net margin of 7.55%. Medifast’s revenue was down 49.9% compared to the same quarter last year. During the same period last year, the business earned $3.67 EPS. As a group, sell-side analysts anticipate that Medifast, Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson cut Medifast from a “neutral” rating to an “underperform” rating and cut their price target for the company from $25.00 to $17.50 in a report on Wednesday, June 5th.

View Our Latest Research Report on Medifast

Medifast 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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