Principal Financial Group Inc. Has $4.80 Million Stock Position in Medifast, Inc. (NYSE:MED)

Principal Financial Group Inc. trimmed its holdings in shares of Medifast, Inc. (NYSE:MEDFree Report) by 2.6% in the third quarter, Holdings Channel.com reports. The firm owned 64,159 shares of the specialty retailer’s stock after selling 1,685 shares during the quarter. Principal Financial Group Inc.’s holdings in Medifast were worth $4,802,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MED. Quadrant Capital Group LLC increased its position in shares of Medifast by 416.1% during the second quarter. Quadrant Capital Group LLC now owns 289 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 233 shares in the last quarter. Covestor Ltd increased its holdings in Medifast by 30,800.0% during the 2nd quarter. Covestor Ltd now owns 309 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 308 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Medifast by 73.0% in the 2nd quarter. Parallel Advisors LLC now owns 429 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 181 shares during the period. Point72 Middle East FZE acquired a new position in shares of Medifast during the fourth quarter worth about $57,000. Finally, CWM LLC lifted its stake in Medifast by 223.8% in the 3rd quarter. CWM LLC now owns 531 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 367 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MED has been the subject of several research reports. StockNews.com downgraded shares of Medifast from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Stephens initiated coverage on shares of Medifast in a research note on Friday, October 13th. They issued an “equal weight” rating and a $82.00 price target on the stock.

Get Our Latest Analysis on Medifast

Medifast Stock Performance

Shares of NYSE MED opened at $53.85 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.51 and a current ratio of 2.04. The stock has a 50 day moving average price of $63.44 and a 200 day moving average price of $73.72. The stock has a market capitalization of $586.37 million, a PE ratio of 4.91 and a beta of 1.22. Medifast, Inc. has a 52 week low of $51.44 and a 52 week high of $116.19.

Medifast (NYSE:MEDGet Free Report) last released its quarterly earnings data on Monday, November 6th. The specialty retailer reported $2.12 EPS for the quarter, beating the consensus estimate of $1.02 by $1.10. The company had revenue of $235.87 million during the quarter, compared to the consensus estimate of $232.10 million. Medifast had a return on equity of 76.08% and a net margin of 9.84%. The firm’s revenue for the quarter was down 39.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.32 EPS. Analysts predict that Medifast, Inc. will post 9.39 earnings per share for the current fiscal year.

Medifast Company Profile

(Free Report)

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.

See Also

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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