Wells Fargo & Company MN boosted its position in Medifast Inc (NYSE:MED) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,153 shares of the specialty retailer’s stock after acquiring an additional 9,407 shares during the period. Wells Fargo & Company MN owned 0.60% of Medifast worth $9,129,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Sandy Spring Bank purchased a new position in shares of Medifast in the second quarter worth about $26,000. Financial Gravity Wealth Inc. boosted its position in Medifast by 853.8% during the second quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 222 shares during the last quarter. Advisors Preferred LLC acquired a new position in Medifast during the second quarter worth about $49,000. Systematic Financial Management LP acquired a new position in Medifast during the second quarter worth about $94,000. Finally, Convergence Investment Partners LLC acquired a new position in Medifast in the 2nd quarter valued at about $105,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

A number of brokerages have weighed in on MED. Zacks Investment Research raised shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Tuesday, August 6th. Jefferies Financial Group started coverage on shares of Medifast in a research note on Thursday, July 25th. They issued a “buy” rating and a $130.00 price target for the company. Finally, ValuEngine lowered shares of Medifast from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th.

NYSE MED traded down $0.01 on Friday, reaching $105.01. The company’s stock had a trading volume of 6,188 shares, compared to its average volume of 287,540. The firm’s 50 day moving average is $104.27 and its two-hundred day moving average is $126.10. The stock has a market cap of $1.21 billion, a PE ratio of 22.44 and a beta of 0.70. Medifast Inc has a twelve month low of $96.40 and a twelve month high of $260.98.

Medifast (NYSE:MED) last issued its earnings results on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The company had revenue of $187.10 million for the quarter, compared to the consensus estimate of $181.74 million. Medifast had a return on equity of 61.06% and a net margin of 11.22%. The firm’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. As a group, sell-side analysts anticipate that Medifast Inc will post 6.86 EPS for the current fiscal year.

Medifast 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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