Barclays PLC Sells 1,275 Shares of Medifast, Inc. (NYSE:MED)

Barclays PLC trimmed its position in Medifast, Inc. (NYSE:MED) by 8.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,067 shares of the specialty retailer’s stock after selling 1,275 shares during the period. Barclays PLC owned about 0.13% of Medifast worth $269,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Medifast by 117.5% during the 2nd quarter. AQR Capital Management LLC now owns 389,951 shares of the specialty retailer’s stock worth $8,509,000 after purchasing an additional 210,669 shares during the period. Millennium Management LLC increased its holdings in Medifast by 37.8% during the second quarter. Millennium Management LLC now owns 469,216 shares of the specialty retailer’s stock worth $10,238,000 after buying an additional 128,719 shares during the last quarter. Bank of Montreal Can bought a new stake in Medifast in the second quarter worth about $746,000. Inspire Investing LLC boosted its stake in Medifast by 203.5% in the third quarter. Inspire Investing LLC now owns 48,867 shares of the specialty retailer’s stock valued at $935,000 after acquiring an additional 32,768 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Medifast by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 198,738 shares of the specialty retailer’s stock valued at $4,336,000 after acquiring an additional 29,476 shares during the period. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Medifast Price Performance

Shares of NYSE:MED opened at $15.49 on Tuesday. The firm has a market capitalization of $169.49 million, a PE ratio of 23.47 and a beta of 1.15. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $18.04 and a two-hundred day moving average price of $18.62. Medifast, Inc. has a twelve month low of $14.94 and a twelve month high of $57.41.

Medifast (NYSE:MED) last released its quarterly earnings data on Monday, November 4th. The specialty retailer reported $0.35 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.50. Medifast had a net margin of 1.09% and a return on equity of 15.98%. The company had revenue of $140.16 million during the quarter, compared to the consensus estimate of $135.45 million. During the same period last year, the firm earned $2.12 EPS. Equities analysts forecast that Medifast, Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

Separately, DA Davidson upgraded Medifast from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $16.50 to $17.00 in a research note on Tuesday, November 5th.

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.