Medifast, Inc. (NYSE:MED) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in shares of Medifast, Inc. (NYSE:MED) by 2,308.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,442 shares of the specialty retailer’s stock after acquiring an additional 10,967 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Medifast were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MED. Millennium Management LLC boosted its stake in Medifast by 37.8% during the 2nd quarter. Millennium Management LLC now owns 469,216 shares of the specialty retailer’s stock valued at $10,238,000 after purchasing an additional 128,719 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Medifast by 117.5% in the 2nd quarter. AQR Capital Management LLC now owns 389,951 shares of the specialty retailer’s stock valued at $8,509,000 after purchasing an additional 210,669 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Medifast by 14.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 169,409 shares of the specialty retailer’s stock worth $3,242,000 after purchasing an additional 20,832 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Medifast by 156.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,455 shares of the specialty retailer’s stock valued at $1,100,000 after acquiring an additional 35,017 shares in the last quarter. Finally, Inspire Investing LLC grew its position in Medifast by 203.5% during the 3rd quarter. Inspire Investing LLC now owns 48,867 shares of the specialty retailer’s stock worth $935,000 after purchasing an additional 32,768 shares in the last quarter. Institutional investors own 95.51% of the company’s stock.

Medifast Trading Down 0.9 %

Shares of NYSE:MED opened at $16.01 on Thursday. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. Medifast, Inc. has a 12-month low of $14.94 and a 12-month high of $57.41. The firm has a fifty day moving average of $17.65 and a two-hundred day moving average of $18.47. The firm has a market capitalization of $175.15 million, a P/E ratio of 24.26 and a beta of 1.15.

Medifast (NYSE:MED) last announced its quarterly earnings results on Monday, November 4th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.50. Medifast had a return on equity of 15.98% and a net margin of 1.09%. The business had revenue of $140.16 million during the quarter, compared to analyst estimates of $135.45 million. During the same period in the previous year, the company earned $2.12 EPS. On average, equities analysts expect that Medifast, Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.