Federated Hermes Inc. Acquires 173,337 Shares of Medifast, Inc. (NYSE:MED)

Federated Hermes Inc. raised its holdings in shares of Medifast, Inc. (NYSE:MED) by 415.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,090 shares of the specialty retailer’s stock after acquiring an additional 173,337 shares during the quarter. Federated Hermes Inc.’s holdings in Medifast were worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MED. nVerses Capital LLC grew its position in shares of Medifast by 54.5% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 600 shares in the last quarter. CWM LLC boosted its stake in Medifast by 370.8% in the 2nd quarter. CWM LLC now owns 4,684 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 3,689 shares during the period. Swedbank AB purchased a new position in Medifast during the 1st quarter valued at about $115,000. Virtu Financial LLC bought a new stake in shares of Medifast during the first quarter valued at about $229,000. Finally, Aigen Investment Management LP lifted its holdings in shares of Medifast by 5.7% in the fourth quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock worth $249,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Medifast Stock Performance

NYSE:MED opened at $18.82 on Thursday. Medifast, Inc. has a 52-week low of $17.73 and a 52-week high of $83.60. The stock has a fifty day moving average of $19.29 and a 200 day moving average of $25.04. The firm has a market capitalization of $205.89 million, a price-to-earnings ratio of 3.04 and a beta of 1.13.

Medifast (NYSE:MED) last issued its quarterly earnings results on Monday, August 5th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.56. The firm had revenue of $168.56 million during the quarter, compared to the consensus estimate of $160.44 million. Medifast had a return on equity of 25.77% and a net margin of 3.81%. During the same quarter last year, the company posted $2.77 EPS. Equities analysts forecast that Medifast, Inc. will post 1.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, DA Davidson reaffirmed an “underperform” rating and set a $17.50 price objective on shares of Medifast in a research note on Monday, July 22nd.

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.