Medifast, Inc. (NYSE:MED) Stock Position Trimmed by Values First Advisors Inc.

Values First Advisors Inc. cut its position in Medifast, Inc. (NYSE:MED) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,170 shares of the specialty retailer’s stock after selling 999 shares during the quarter. Values First Advisors Inc. owned about 0.59% of Medifast worth $1,228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. nVerses Capital LLC raised its position in shares of Medifast by 54.5% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the specialty retailer’s stock worth $37,000 after buying an additional 600 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Medifast by 10.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,589 shares of the specialty retailer’s stock worth $252,000 after buying an additional 618 shares in the last quarter. Aviance Capital Partners LLC raised its position in shares of Medifast by 21.0% during the 1st quarter. Aviance Capital Partners LLC now owns 8,676 shares of the specialty retailer’s stock worth $332,000 after buying an additional 1,506 shares in the last quarter. Quarry LP raised its position in shares of Medifast by 592.7% during the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer’s stock worth $58,000 after buying an additional 2,282 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Medifast by 21.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,828 shares of the specialty retailer’s stock worth $530,000 after buying an additional 2,472 shares in the last quarter. 95.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Medifast Price Performance

Shares of MED opened at $17.63 on Friday. The firm’s 50 day moving average is $18.58 and its 200-day moving average is $21.87. The stock has a market capitalization of $192.87 million, a P/E ratio of 6.58 and a beta of 1.13. Medifast, Inc. has a 12-month low of $17.07 and a 12-month high of $76.42.

Medifast (NYSE:MED) last announced its quarterly earnings data on Monday, August 5th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.56. The company had revenue of $168.56 million for the quarter, compared to analysts’ expectations of $160.44 million. Medifast had a net margin of 3.81% and a return on equity of 25.77%. During the same quarter in the previous year, the company posted $2.77 EPS. As a group, equities research analysts forecast that Medifast, Inc. will post 1.12 EPS for the current fiscal year.

About Medifast

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.