Medifast, Inc. (NYSE:MED) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in Medifast, Inc. (NYSE:MED) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 271,356 shares of the specialty retailer’s stock after selling 19,167 shares during the period. Dimensional Fund Advisors LP owned approximately 2.48% of Medifast worth $5,921,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MED. Federated Hermes Inc. grew its position in Medifast by 415.1% in the 2nd quarter. Federated Hermes Inc. now owns 215,090 shares of the specialty retailer’s stock valued at $4,693,000 after buying an additional 173,337 shares during the last quarter. BOKF NA purchased a new stake in shares of Medifast in the second quarter valued at about $267,000. American Century Companies Inc. increased its stake in shares of Medifast by 17.4% during the second quarter. American Century Companies Inc. now owns 198,738 shares of the specialty retailer’s stock worth $4,336,000 after acquiring an additional 29,476 shares during the period. Acadian Asset Management LLC raised its holdings in Medifast by 2,000.1% during the second quarter. Acadian Asset Management LLC now owns 338,228 shares of the specialty retailer’s stock worth $7,376,000 after purchasing an additional 322,123 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Medifast in the second quarter valued at about $785,000. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson reiterated an “underperform” rating and set a $17.50 target price on shares of Medifast in a research report on Monday, July 22nd.

Medifast Stock Performance

Shares of NYSE MED opened at $18.47 on Wednesday. Medifast, Inc. has a one year low of $17.73 and a one year high of $77.69. The firm has a market capitalization of $202.06 million, a P/E ratio of 2.98 and a beta of 1.13. The company’s fifty day moving average is $19.18 and its two-hundred day moving average is $23.30.

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

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.