Los Angeles Capital Management & Equity Research Inc. reduced its stake in shares of Medifast Inc (NYSE:MED) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,523 shares of the specialty retailer’s stock after selling 1,840 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.17% of Medifast worth $4,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. WINTON GROUP Ltd grew its stake in shares of Medifast by 5.2% in the 2nd quarter. WINTON GROUP Ltd now owns 96,810 shares of the specialty retailer’s stock valued at $15,505,000 after buying an additional 4,826 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Medifast in the 2nd quarter valued at approximately $1,548,000. James Investment Research Inc. bought a new stake in shares of Medifast in the 2nd quarter valued at approximately $2,695,000. Swiss National Bank grew its stake in shares of Medifast by 19.3% in the 2nd quarter. Swiss National Bank now owns 19,800 shares of the specialty retailer’s stock valued at $3,171,000 after buying an additional 3,200 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Medifast in the 2nd quarter valued at approximately $8,408,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Shares of MED stock traded down $5.78 during trading hours on Friday, reaching $138.90. 361,201 shares of the company’s stock were exchanged, compared to its average volume of 264,316. The firm has a market cap of $1.73 billion, a PE ratio of 60.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.42. Medifast Inc has a fifty-two week low of $61.96 and a fifty-two week high of $260.98.

Medifast (NYSE:MED) last issued its earnings results on Tuesday, November 6th. The specialty retailer reported $1.14 EPS for the quarter, meeting analysts’ consensus estimates of $1.14. The business had revenue of $139.20 million during the quarter, compared to analyst estimates of $125.20 million. Medifast had a return on equity of 43.45% and a net margin of 10.95%. Medifast’s revenue was up 80.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, equities analysts expect that Medifast Inc will post 4.5 EPS for the current fiscal year.

Several research firms recently weighed in on MED. ValuEngine upgraded Medifast from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. Zacks Investment Research lowered Medifast from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Sidoti upgraded Medifast from a “neutral” rating to a “buy” rating in a report on Thursday, November 8th.

In other Medifast news, Director Constance J. Hallquist sold 1,343 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $153.84, for a total value of $206,607.12. Following the sale, the director now directly owns 4,687 shares in the company, valued at $721,048.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel R. Chard purchased 975 shares of the stock in a transaction on Thursday, November 8th. The stock was bought at an average price of $153.28 per share, for a total transaction of $149,448.00. Following the completion of the transaction, the chief executive officer now directly owns 12,753 shares of the company’s stock, valued at $1,954,779.84. The disclosure for this purchase can be found here. Corporate insiders own 4.30% of the company’s stock.

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Medifast Company Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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