Invesco Ltd. Has $862,000 Stock Position in Medifast, Inc. (NYSE:MED)

Invesco Ltd. lowered its holdings in shares of Medifast, Inc. (NYSE:MED) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,926 shares of the specialty retailer’s stock after selling 1,927 shares during the quarter. Invesco Ltd. owned about 0.45% of Medifast worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of Medifast by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer’s stock valued at $301,000 after purchasing an additional 674 shares during the period. Wells Fargo & Company MN grew its stake in Medifast by 23.5% in the 4th quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer’s stock valued at $114,000 after buying an additional 1,227 shares during the last quarter. Geode Capital Management LLC raised its holdings in Medifast by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 245,929 shares of the specialty retailer’s stock worth $4,335,000 after acquiring an additional 1,447 shares during the period. Inspire Investing LLC lifted its position in Medifast by 11.1% during the 4th quarter. Inspire Investing LLC now owns 54,270 shares of the specialty retailer’s stock worth $956,000 after acquiring an additional 5,403 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Medifast by 3.4% during the fourth quarter. American Century Companies Inc. now owns 244,185 shares of the specialty retailer’s stock valued at $4,303,000 after acquiring an additional 8,058 shares during the period. Institutional investors and hedge funds own 95.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MED. StockNews.com upgraded shares of Medifast from a “hold” rating to a “buy” rating in a research note on Thursday. DA Davidson dropped their price objective on shares of Medifast from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Wednesday, February 19th.

Medifast Price Performance

Shares of MED opened at $13.00 on Friday. The business’s 50 day simple moving average is $13.40 and its 200-day simple moving average is $16.03. Medifast, Inc. has a one year low of $11.57 and a one year high of $28.44. The company has a market capitalization of $142.84 million, a P/E ratio of 72.20 and a beta of 1.05.

Medifast (NYSE:MED) last issued its quarterly earnings results on Monday, April 28th. The specialty retailer reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). Medifast had a return on equity of 10.64% and a net margin of 0.35%. The business had revenue of $115.73 million for the quarter, compared to analyst estimates of $114.85 million. On average, sell-side analysts anticipate that Medifast, Inc. will post 0.51 EPS for the current fiscal year.

About Medifast

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.