Allspring Global Investments Holdings LLC Has $1.64 Million Stock Position in Medifast, Inc. (NYSE:MED)

Allspring Global Investments Holdings LLC raised its position in shares of Medifast, Inc. (NYSE:MEDFree Report) by 249.2% in the 1st quarter, Holdings Channel reports. The firm owned 42,893 shares of the specialty retailer’s stock after acquiring an additional 30,610 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Medifast were worth $1,644,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Medifast by 53.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock worth $177,000 after buying an additional 911 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Medifast during the fourth quarter worth $213,000. Vest Financial LLC bought a new stake in shares of Medifast during the fourth quarter worth $232,000. Aigen Investment Management LP grew its stake in shares of Medifast by 5.7% during the fourth quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock worth $249,000 after buying an additional 199 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Medifast during the fourth quarter worth $295,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson cut shares of Medifast from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $25.00 to $17.50 in a research note on Wednesday, June 5th.

Read Our Latest Report on Medifast

Medifast Stock Down 3.5 %

NYSE MED opened at $19.77 on Friday. The company has a market capitalization of $216.28 million, a price-to-earnings ratio of 3.19 and a beta of 1.15. Medifast, Inc. has a twelve month low of $18.81 and a twelve month high of $109.52. The stock has a fifty day simple moving average of $23.75 and a 200 day simple moving average of $39.34.

Medifast (NYSE:MEDGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). The company had revenue of $174.74 million during the quarter, compared to analyst estimates of $168.90 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. The business’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.67 earnings per share. Research analysts expect that Medifast, Inc. will post 0.94 earnings per share for the current fiscal year.

About Medifast

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medifast, Inc. (NYSE:MEDFree Report).

Institutional Ownership by Quarter for Medifast (NYSE:MED)

Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.