Medifast, Inc. (NYSE:MED) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in shares of Medifast, Inc. (NYSE:MED) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 279,473 shares of the specialty retailer’s stock after buying an additional 62,574 shares during the quarter. Federated Hermes Inc. owned about 2.55% of Medifast worth $4,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Medifast by 44.6% during the 3rd quarter. FMR LLC now owns 30,786 shares of the specialty retailer’s stock worth $589,000 after buying an additional 9,499 shares during the last quarter. XTX Topco Ltd purchased a new position in Medifast in the third quarter worth approximately $348,000. Public Employees Retirement System of Ohio increased its stake in Medifast by 1,161.8% during the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock worth $187,000 after acquiring an additional 8,992 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Medifast by 156.1% during the third quarter. JPMorgan Chase & Co. now owns 57,455 shares of the specialty retailer’s stock worth $1,100,000 after acquiring an additional 35,017 shares during the last quarter. Finally, Commons Capital LLC raised its position in Medifast by 38.5% in the fourth quarter. Commons Capital LLC now owns 38,000 shares of the specialty retailer’s stock valued at $670,000 after purchasing an additional 10,563 shares during the period. Institutional investors and hedge funds own 95.51% of the company’s stock.

Medifast Stock Down 3.6 %

Shares of NYSE MED opened at $12.66 on Friday. The business’s 50 day moving average is $14.21 and its two-hundred day moving average is $16.60. Medifast, Inc. has a 52-week low of $12.30 and a 52-week high of $36.30. The firm has a market cap of $138.52 million, a price-to-earnings ratio of 70.36 and a beta of 1.05.

Medifast (NYSE:MED) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. Medifast had a return on equity of 10.64% and a net margin of 0.35%. The business had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $114.25 million. Analysts anticipate that Medifast, Inc. will post 0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price target on shares of Medifast from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Wednesday, February 19th.

Medifast 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.