Denali Advisors LLC Has $1.01 Million Holdings in Medifast, Inc. (NYSE:MED)

Denali Advisors LLC lifted its holdings in Medifast, Inc. (NYSE:MED) by 21.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,413 shares of the specialty retailer’s stock after acquiring an additional 4,600 shares during the quarter. Denali Advisors LLC owned approximately 0.24% of Medifast worth $1,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MED. Invesco Ltd. boosted its holdings in shares of Medifast by 11.5% in the 3rd quarter. Invesco Ltd. now owns 87,087 shares of the specialty retailer’s stock worth $6,518,000 after acquiring an additional 8,996 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Medifast by 18.7% during the 3rd quarter. AQR Capital Management LLC now owns 121,671 shares of the specialty retailer’s stock worth $9,107,000 after buying an additional 19,192 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Medifast by 9.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 47,508 shares of the specialty retailer’s stock worth $3,556,000 after buying an additional 3,931 shares in the last quarter. Bridge City Capital LLC lifted its holdings in Medifast by 2.7% during the 3rd quarter. Bridge City Capital LLC now owns 16,538 shares of the specialty retailer’s stock worth $1,238,000 after buying an additional 429 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Medifast by 110.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 129,650 shares of the specialty retailer’s stock worth $9,704,000 after buying an additional 67,951 shares in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, DA Davidson downgraded Medifast from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $25.00 to $17.50 in a report on Wednesday, June 5th.

Medifast Stock Down 3.5 %

Shares of MED traded down $0.71 during trading hours on Wednesday, reaching $19.77. The stock had a trading volume of 141,005 shares, compared to its average volume of 484,820. Medifast, Inc. has a 52 week low of $18.81 and a 52 week high of $109.52. The firm has a 50-day moving average of $24.02 and a 200 day moving average of $39.48. The company has a market cap of $216.28 million, a P/E ratio of 3.31 and a beta of 1.15.

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