Medifast, Inc. (NYSE:MED) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in Medifast, Inc. (NYSE:MED) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,729 shares of the specialty retailer’s stock after selling 2,947 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.25% of Medifast worth $489,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quarry LP grew its position in shares of Medifast by 148.6% in the third quarter. Quarry LP now owns 6,629 shares of the specialty retailer’s stock valued at $127,000 after purchasing an additional 3,962 shares during the last quarter. CWM LLC grew its position in shares of Medifast by 70.9% in the third quarter. CWM LLC now owns 8,006 shares of the specialty retailer’s stock valued at $153,000 after purchasing an additional 3,322 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Medifast by 1,161.8% in the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock valued at $187,000 after purchasing an additional 8,992 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Medifast by 2,308.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,442 shares of the specialty retailer’s stock worth $202,000 after acquiring an additional 10,967 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Medifast during the third quarter worth approximately $206,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Medifast Stock Down 2.4 %

Shares of NYSE MED opened at $15.12 on Monday. Medifast, Inc. has a 1 year low of $14.88 and a 1 year high of $56.52. The firm’s 50 day moving average price is $17.13 and its 200 day moving average price is $18.28. The firm has a market cap of $165.38 million, a P/E ratio of 22.91 and a beta of 1.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.55 and a current ratio of 3.11.

Medifast 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.