Charles Schwab Investment Management Inc. Sells 27,336 Shares of Medifast, Inc. (NYSE:MED)

Charles Schwab Investment Management Inc. cut its position in Medifast, Inc. (NYSE:MED - Free Report) by 15.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,236 shares of the specialty retailer's stock after selling 27,336 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.36% of Medifast worth $2,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC grew its position in Medifast by 54.5% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the specialty retailer's stock valued at $37,000 after acquiring an additional 600 shares during the last quarter. Quarry LP boosted its stake in shares of Medifast by 592.7% in the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer's stock valued at $58,000 after purchasing an additional 2,282 shares in the last quarter. CWM LLC grew its holdings in shares of Medifast by 370.8% during the 2nd quarter. CWM LLC now owns 4,684 shares of the specialty retailer's stock valued at $102,000 after purchasing an additional 3,689 shares during the last quarter. SG Americas Securities LLC acquired a new position in Medifast during the 3rd quarter worth approximately $206,000. Finally, BOKF NA bought a new position in Medifast in the 2nd quarter valued at approximately $267,000. Institutional investors own 95.51% of the company's stock.

Medifast Trading Down 4.9 %

Shares of MED stock traded down $0.93 during mid-day trading on Monday, reaching $18.23. 329,052 shares of the stock traded hands, compared to its average volume of 372,175. The stock's fifty day simple moving average is $18.80 and its two-hundred day simple moving average is $19.41. Medifast, Inc. has a 1-year low of $17.07 and a 1-year high of $70.58. 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 market cap of $199.40 million, a price-to-earnings ratio of 29.03 and a beta of 1.17.

Medifast (NYSE:MED - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.50. The firm had revenue of $140.16 million during the quarter, compared to analysts' expectations of $135.45 million. Medifast had a net margin of 1.09% and a return on equity of 15.98%. During the same period in the prior year, the company posted $2.12 EPS. On average, research analysts anticipate that Medifast, Inc. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, DA Davidson upgraded shares of Medifast from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $16.50 to $17.00 in a report on Tuesday, November 5th.

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.