Renaissance Technologies LLC Sells 102,476 Shares of Medifast, Inc. (NYSE:MED)

Renaissance Technologies LLC lessened its holdings in shares of Medifast, Inc. (NYSE:MED - Free Report) by 10.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 903,734 shares of the specialty retailer's stock after selling 102,476 shares during the period. Renaissance Technologies LLC owned 8.26% of Medifast worth $15,924,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Wells Fargo & Company MN raised its stake in shares of Medifast by 23.5% in the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer's stock worth $114,000 after acquiring an additional 1,227 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position 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 buying an additional 8,992 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Medifast by 2,308.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,442 shares of the specialty retailer's stock valued at $202,000 after buying an additional 10,967 shares during the period. Exchange Traded Concepts LLC lifted its holdings in 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 acquiring an additional 674 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Medifast in the third quarter worth about $348,000. 95.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Medifast Trading Down 1.8 %

Shares of Medifast stock traded down $0.22 during trading hours on Friday, reaching $11.93. 133,380 shares of the company's stock were exchanged, compared to its average volume of 322,929. The stock has a market cap of $130.50 million, a P/E ratio of 66.28 and a beta of 1.05. The company has a 50 day moving average of $13.91 and a two-hundred day moving average of $16.38. Medifast, Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $36.30.

Medifast (NYSE:MED - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.26. Medifast had a return on equity of 10.64% and a net margin of 0.35%. The firm had revenue of $119.00 million for the quarter, compared to analyst estimates of $114.25 million. As a group, analysts expect that Medifast, Inc. will post 0.51 earnings per share 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.