Medifast, Inc. (NYSE:MED) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its position in Medifast, Inc. (NYSE:MED) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,459 shares of the specialty retailer’s stock after buying an additional 1,227 shares during the period. Wells Fargo & Company MN’s holdings in Medifast were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MED. Nisa Investment Advisors LLC increased 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 purchasing an additional 10,967 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Medifast by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer’s stock worth $301,000 after purchasing an additional 674 shares during the last quarter. Amundi acquired a new position in Medifast during the fourth quarter worth approximately $374,000. Landscape Capital Management L.L.C. acquired a new position in Medifast during the fourth quarter worth approximately $577,000. Finally, Commons Capital LLC increased its position in Medifast by 38.5% during the fourth quarter. Commons Capital LLC now owns 38,000 shares of the specialty retailer’s stock worth $670,000 after purchasing an additional 10,563 shares during the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Analysts Set New Price Targets

MED has been the subject of several research analyst reports. StockNews.com raised shares of Medifast from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. DA Davidson decreased their price objective on shares of Medifast from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Wednesday, February 19th.

Medifast Price Performance

NYSE MED opened at $12.77 on Monday. Medifast, Inc. has a 12 month low of $11.57 and a 12 month high of $27.16. The company has a market capitalization of $140.36 million, a price-to-earnings ratio of 70.94 and a beta of 0.96. The company’s fifty day moving average price is $13.26 and its two-hundred day moving average price is $15.81.

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

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.