Jacobs Levy Equity Management Inc. Has $2.58 Million Position in Medifast, Inc. (NYSE:MED)

Jacobs Levy Equity Management Inc. lessened its position in Medifast, Inc. (NYSE:MED) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,507 shares of the specialty retailer’s stock after selling 22,902 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Medifast were worth $2,581,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Medifast by 156.1% during the 3rd 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 in the last quarter. Wells Fargo & Company MN boosted its holdings in Medifast by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer’s stock worth $114,000 after purchasing an additional 1,227 shares during the last quarter. Barclays PLC grew its position in Medifast by 15.1% in the fourth quarter. Barclays PLC now owns 16,194 shares of the specialty retailer’s stock valued at $285,000 after purchasing an additional 2,127 shares in the last quarter. Amundi acquired a new stake in Medifast in the 4th quarter valued at $374,000. Finally, American Century Companies Inc. lifted its position in Medifast by 3.4% during the 4th quarter. American Century Companies Inc. now owns 244,185 shares of the specialty retailer’s stock worth $4,303,000 after buying an additional 8,058 shares in the last quarter. Institutional investors own 95.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MED shares. StockNews.com upgraded Medifast from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. DA Davidson lowered their price target on Medifast from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th.

Medifast Trading Up 4.9%

NYSE MED opened at $13.37 on Friday. The firm’s fifty day moving average price is $13.15 and its two-hundred day moving average price is $15.70. Medifast, Inc. has a 1 year low of $11.57 and a 1 year high of $26.53. The firm has a market capitalization of $146.95 million, a P/E ratio of 74.28 and a beta of 0.96.

Medifast (NYSE:MED) last issued its earnings results on Monday, April 28th. The specialty retailer reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). Medifast had a net margin of 0.35% and a return on equity of 10.64%. The firm had revenue of $115.73 million during the quarter, compared to the consensus estimate of $114.85 million. On average, research analysts anticipate that Medifast, Inc. will post 0.51 EPS for the current fiscal year.

About Medifast

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.