Medifast, Inc. (NYSE:MED) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of Medifast, Inc. (NYSE:MED - Free Report) by 28.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,473 shares of the specialty retailer's stock after purchasing an additional 62,574 shares during the period. Federated Hermes Inc. owned 2.55% of Medifast worth $4,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MED. Wells Fargo & Company MN boosted its position in shares of Medifast by 23.5% during the 4th 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 period. Public Employees Retirement System of Ohio boosted its holdings 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 valued at $187,000 after purchasing an additional 8,992 shares during the period. Nisa Investment Advisors LLC increased its holdings in Medifast by 2,308.8% during the 4th 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 during the period. Exchange Traded Concepts LLC grew its position in shares of Medifast by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer's stock worth $301,000 after buying an additional 674 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Medifast in the third quarter valued at approximately $348,000. Institutional investors and hedge funds own 95.51% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective on shares of Medifast from $17.00 to $16.50 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th.

Medifast Trading Down 0.2 %

Shares of MED stock traded down $0.03 during mid-day trading on Thursday, reaching $12.13. The stock had a trading volume of 29,361 shares, compared to its average volume of 322,613. The company has a market cap of $132.62 million, a P/E ratio of 67.39 and a beta of 1.05. Medifast, Inc. has a 12-month low of $11.88 and a 12-month high of $36.30. The business has a 50-day simple moving average of $14.04 and a 200 day simple moving average of $16.48.

Medifast (NYSE:MED - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.26. Medifast had a return on equity of 10.64% and a net margin of 0.35%. The company had revenue of $119.00 million during the quarter, compared to analysts' expectations of $114.25 million. Research analysts anticipate that Medifast, Inc. will post 0.51 EPS for the current 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.