JPMorgan Chase & Co. Increases Position in Medifast, Inc. (NYSE:MED)

JPMorgan Chase & Co. boosted its stake in shares of Medifast, Inc. (NYSE:MED - Free Report) by 156.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,455 shares of the specialty retailer's stock after purchasing an additional 35,017 shares during the period. JPMorgan Chase & Co. owned 0.53% of Medifast worth $1,100,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Medifast by 1,161.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer's stock worth $187,000 after acquiring an additional 8,992 shares during the period. XTX Topco Ltd bought a new position in Medifast during the 3rd quarter worth $348,000. Quarry LP increased its stake 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 during the period. Jacobs Levy Equity Management Inc. increased its stake in Medifast by 14.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 169,409 shares of the specialty retailer's stock worth $3,242,000 after acquiring an additional 20,832 shares during the period. Finally, Centiva Capital LP increased its stake 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 during the period. 95.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Medifast Trading Up 1.1 %

MED traded up $0.18 during midday trading on Friday, hitting $15.75. 160,809 shares of the company were exchanged, compared to its average volume of 205,771. The firm has a market capitalization of $172.25 million, a P/E ratio of 23.86 and a beta of 1.15. Medifast, Inc. has a 1-year low of $14.94 and a 1-year high of $57.41. The firm's 50 day moving average price is $17.70 and its 200-day moving average price is $18.51. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06.

Medifast (NYSE:MED - Get Free Report) last announced its earnings results on Monday, November 4th. The specialty retailer reported $0.35 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.50. The firm had revenue of $140.16 million for the quarter, compared to the consensus estimate of $135.45 million. Medifast had a return on equity of 15.98% and a net margin of 1.09%. During the same period in the previous year, the business earned $2.12 EPS. As a group, equities analysts forecast that Medifast, Inc. will post 1.68 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.