Medifast, Inc. (NYSE:MED) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its stake in Medifast, Inc. (NYSE:MED) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,971 shares of the specialty retailer’s stock after selling 567 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Medifast were worth $401,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CWM LLC boosted its position in Medifast by 223.8% during the third quarter. CWM LLC now owns 531 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 367 shares in the last quarter. SG Americas Securities LLC purchased a new position in Medifast during the third quarter worth approximately $531,000. Robeco Institutional Asset Management B.V. boosted its position in Medifast by 54.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 34,880 shares of the specialty retailer’s stock worth $2,611,000 after purchasing an additional 12,230 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Medifast by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 194,369 shares of the specialty retailer’s stock worth $14,549,000 after purchasing an additional 4,005 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV boosted its position in Medifast by 38.5% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 8,087 shares of the specialty retailer’s stock worth $605,000 after purchasing an additional 2,250 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Insider Activity

In other news, Director Scott Schlackman sold 4,053 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $39.44, for a total value of $159,850.32. Following the transaction, the director now owns 7,785 shares in the company, valued at $307,040.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.06% of the company’s stock.

Medifast Price Performance

NYSE MED opened at $26.36 on Thursday. The company has a market cap of $288.32 million, a PE ratio of 4.25 and a beta of 1.19. The stock’s 50 day simple moving average is $35.52 and its 200-day simple moving average is $53.93. Medifast, Inc. has a 1-year low of $25.92 and a 1-year high of $109.52.

Medifast (NYSE:MED) last released its earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.12). The firm had revenue of $174.74 million during the quarter, compared to analysts’ expectations of $168.90 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. The business’s revenue was down 49.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.67 EPS. On average, equities research analysts anticipate that Medifast, Inc. will post 1.91 EPS for the current fiscal year.

Analyst Ratings Changes

MED has been the topic of a number of recent analyst reports. DA Davidson lowered their price target on Medifast from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday. TheStreet downgraded Medifast from a “c” rating to a “d+” rating in a research report on Wednesday, February 21st.

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.