Medifast, Inc. (NYSE:MED) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its position in shares of Medifast, Inc. (NYSE:MED) by 47.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,866 shares of the specialty retailer’s stock after selling 5,318 shares during the quarter. Meeder Asset Management Inc. owned approximately 0.05% of Medifast worth $225,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Medifast by 2.5% during the fourth quarter. SG Americas Securities LLC now owns 7,266 shares of the specialty retailer’s stock valued at $488,000 after acquiring an additional 174 shares during the last quarter. Aigen Investment Management LP grew its position 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 valued at $249,000 after purchasing an additional 199 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Medifast by 1.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 35,495 shares of the specialty retailer’s stock valued at $2,386,000 after purchasing an additional 615 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Medifast by 10.4% in the first quarter. Illinois Municipal Retirement Fund now owns 6,589 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 618 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Medifast by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock valued at $177,000 after purchasing an additional 911 shares in the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lowered Medifast from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $25.00 to $17.50 in a research report on Wednesday, June 5th.

Medifast Stock Performance

Shares of MED stock traded down $0.22 during trading hours on Monday, reaching $18.65. The company had a trading volume of 371,690 shares, compared to its average volume of 477,692. The stock has a fifty day moving average of $22.07 and a 200-day moving average of $36.43. The company has a market capitalization of $204.03 million, a price-to-earnings ratio of 3.01 and a beta of 1.15. Medifast, Inc. has a 12-month low of $17.89 and a 12-month high of $109.52.

Medifast (NYSE:MED) last issued its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.12). The business had revenue of $174.74 million during the quarter, compared to analysts’ expectations of $168.90 million. Medifast had a return on equity of 36.64% and a net margin of 7.55%. The company’s revenue was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.67 earnings per share. On average, analysts forecast that Medifast, Inc. will post 0.94 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.