Medifast, Inc. (NYSE:MED) Stock Holdings Decreased by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in Medifast, Inc. (NYSE:MED - Free Report) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,482 shares of the specialty retailer's stock after selling 36,328 shares during the period. Geode Capital Management LLC owned approximately 2.23% of Medifast worth $4,681,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MED. Public Employees Retirement System of Ohio increased its holdings in Medifast by 1,161.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer's stock valued at $187,000 after purchasing an additional 8,992 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Medifast in the third quarter valued at about $348,000. Quarry LP grew its stake in shares of Medifast by 148.6% in the third quarter. Quarry LP now owns 6,629 shares of the specialty retailer's stock valued at $127,000 after buying an additional 3,962 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Medifast by 14.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 169,409 shares of the specialty retailer's stock valued at $3,242,000 after buying an additional 20,832 shares during the period. Finally, Centiva Capital LP lifted its position in Medifast by 6.3% during the 3rd quarter. Centiva Capital LP now owns 15,238 shares of the specialty retailer's stock worth $292,000 after acquiring an additional 898 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company's stock.

Medifast Stock Down 5.5 %

Medifast stock traded down $0.96 during midday trading on Monday, hitting $16.64. 203,905 shares of the stock were exchanged, compared to its average volume of 212,269. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 2.55. The company has a 50 day moving average price of $18.70 and a two-hundred day moving average price of $18.95. The firm has a market cap of $182.01 million, a P/E ratio of 25.21 and a beta of 1.15. Medifast, Inc. has a 1 year low of $16.56 and a 1 year high of $67.50.

Medifast (NYSE:MED - Get Free Report) last announced its earnings results on Monday, November 4th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.50. Medifast had a return on equity of 15.98% and a net margin of 1.09%. The business had revenue of $140.16 million for the quarter, compared to analyst estimates of $135.45 million. During the same period in the previous year, the company earned $2.12 earnings per share. On average, sell-side analysts predict that Medifast, Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, DA Davidson raised shares of Medifast from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $16.50 to $17.00 in a research 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.