Medifast, Inc. (NYSE:MED) Position Cut by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Medifast, Inc. (NYSE:MED - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,138 shares of the specialty retailer's stock after selling 34,098 shares during the period. Charles Schwab Investment Management Inc. owned about 1.04% of Medifast worth $2,011,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MED. Quarry LP grew its holdings in Medifast by 148.6% during the 3rd quarter. Quarry LP now owns 6,629 shares of the specialty retailer's stock worth $127,000 after acquiring an additional 3,962 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Medifast by 1,161.8% in the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer's stock worth $187,000 after purchasing an additional 8,992 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Medifast by 2,308.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,442 shares of the specialty retailer's stock worth $202,000 after purchasing an additional 10,967 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Medifast in the third quarter valued at about $256,000. Finally, Centiva Capital LP raised its stake in Medifast by 6.3% during the third quarter. Centiva Capital LP now owns 15,238 shares of the specialty retailer's stock valued at $292,000 after buying an additional 898 shares in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered their price target on Medifast from $17.00 to $16.50 and set a "neutral" rating for the company in a report on Wednesday, February 19th.

Medifast Stock Performance

Shares of Medifast stock traded up $0.57 during trading hours on Wednesday, reaching $13.71. The company's stock had a trading volume of 194,064 shares, compared to its average volume of 326,526. Medifast, Inc. has a one year low of $12.87 and a one year high of $36.30. The company's 50 day simple moving average is $14.73 and its 200 day simple moving average is $16.96. The stock has a market cap of $149.96 million, a P/E ratio of 76.17 and a beta of 1.13.

Medifast (NYSE:MED - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.26. The company had revenue of $119.00 million during the quarter, compared to the consensus estimate of $114.25 million. Medifast had a return on equity of 10.64% and a net margin of 0.35%. On average, sell-side analysts predict that Medifast, Inc. will post 0.51 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.