State Street Corp Has $4.15 Million Stake in Medifast, Inc. (NYSE:MED)

State Street Corp lowered its holdings in shares of Medifast, Inc. (NYSE:MED) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,610 shares of the specialty retailer’s stock after selling 11,842 shares during the period. State Street Corp’s holdings in Medifast were worth $4,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MED. Renaissance Technologies LLC lifted its holdings in shares of Medifast by 20.3% during the 2nd quarter. Renaissance Technologies LLC now owns 958,610 shares of the specialty retailer’s stock worth $20,917,000 after acquiring an additional 161,487 shares during the period. Millennium Management LLC lifted its stake in Medifast by 37.8% during the second quarter. Millennium Management LLC now owns 469,216 shares of the specialty retailer’s stock worth $10,238,000 after purchasing an additional 128,719 shares during the period. AQR Capital Management LLC boosted its holdings in Medifast by 117.5% during the second quarter. AQR Capital Management LLC now owns 389,951 shares of the specialty retailer’s stock valued at $8,509,000 after purchasing an additional 210,669 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Medifast by 2,000.1% in the 2nd quarter. Acadian Asset Management LLC now owns 338,228 shares of the specialty retailer’s stock valued at $7,376,000 after purchasing an additional 322,123 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Medifast by 415.1% in the 2nd quarter. Federated Hermes Inc. now owns 215,090 shares of the specialty retailer’s stock worth $4,693,000 after buying an additional 173,337 shares in the last quarter. Institutional investors own 95.51% of the company’s stock.

Medifast Stock Up 1.1 %

Shares of Medifast stock opened at $17.79 on Tuesday. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The stock has a market cap of $194.59 million, a PE ratio of 26.95 and a beta of 1.17. The business has a fifty day simple moving average of $18.69 and a 200 day simple moving average of $19.01. Medifast, Inc. has a 12 month low of $16.70 and a 12 month high of $70.58.

Medifast (NYSE:MED) last issued its quarterly earnings data on Monday, November 4th. The specialty retailer reported $0.35 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.50. Medifast had a return on equity of 15.98% and a net margin of 1.09%. The business had revenue of $140.16 million for the quarter, compared to the consensus estimate of $135.45 million. During the same quarter last year, the business posted $2.12 EPS. Research analysts predict that Medifast, Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, DA Davidson upgraded Medifast from an “underperform” rating to a “neutral” rating and raised their target price for the company from $16.50 to $17.00 in a research note on Tuesday, November 5th.

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.