Charles Schwab Investment Management Inc. Reduces Stock Position in Medifast, Inc. (NYSE:MED)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Medifast, Inc. (NYSE:MED) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 148,236 shares of the specialty retailer’s stock after selling 27,336 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Medifast were worth $2,837,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. nVerses Capital LLC boosted its stake in Medifast by 54.5% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 600 shares during the last quarter. Quarry LP boosted its stake in Medifast by 592.7% during the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 2,282 shares during the last quarter. CWM LLC boosted its stake in Medifast by 370.8% during the 2nd quarter. CWM LLC now owns 4,684 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 3,689 shares during the last quarter. SG Americas Securities LLC bought a new position in Medifast during the 3rd quarter valued at $206,000. Finally, BOKF NA bought a new position in Medifast during the 2nd quarter valued at $267,000. Institutional investors and hedge funds own 95.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Medifast Stock Down 4.9 %

MED stock opened at $19.16 on Monday. 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 fifty-two week low of $17.07 and a fifty-two week high of $72.09. The firm’s 50-day simple moving average is $18.80 and its 200 day simple moving average is $19.41. The stock has a market cap of $209.57 million, a PE ratio of 29.03 and a beta of 1.17.

Medifast (NYSE:MED) last released its quarterly earnings data on Monday, November 4th. The specialty retailer reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.50. Medifast had a net margin of 1.09% and a return on equity of 15.98%. The business had revenue of $140.16 million for the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter last year, the company earned $2.12 EPS. As a group, sell-side analysts predict that Medifast, Inc. will post 1.68 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.