Gallacher Capital Management LLC Has $458,000 Holdings in Medifast, Inc. (NYSE:MED)

Gallacher Capital Management LLC grew its holdings in Medifast, Inc. (NYSE:MED) by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,813 shares of the specialty retailer’s stock after purchasing an additional 1,522 shares during the quarter. Gallacher Capital Management LLC owned approximately 0.06% of Medifast worth $458,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Medifast by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock valued at $177,000 after buying an additional 911 shares during the period. Olympiad Research LP bought a new position in Medifast during the 3rd quarter worth approximately $208,000. Triumph Capital Management bought a new position in Medifast during the 4th quarter worth approximately $213,000. Vest Financial LLC acquired a new position in Medifast during the fourth quarter valued at approximately $232,000. Finally, Inspire Investing LLC increased its stake in Medifast by 18.9% in the third quarter. Inspire Investing LLC now owns 4,081 shares of the specialty retailer’s stock valued at $305,000 after purchasing an additional 648 shares in the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Insider Buying and Selling

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the company’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 transaction of $159,850.32. Following the completion of the transaction, the director now owns 7,785 shares of the company’s stock, valued at approximately $307,040.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.06% of the stock is owned by corporate insiders.

Medifast Price Performance

Shares of Medifast stock traded up $0.76 on Friday, hitting $26.69. The company had a trading volume of 459,572 shares, compared to its average volume of 486,776. The stock has a 50-day moving average of $34.96 and a 200-day moving average of $53.10. Medifast, Inc. has a twelve month low of $25.36 and a twelve month high of $109.52. The firm has a market capitalization of $291.99 million, a P/E ratio of 4.30 and a beta of 1.19.

Medifast (NYSE:MED) last announced its earnings results 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). Medifast had a return on equity of 36.64% and a net margin of 7.55%. The company had revenue of $174.74 million during the quarter, compared to analyst estimates of $168.90 million. During the same period in the previous year, the company posted $3.67 earnings per share. Medifast’s revenue for the quarter was down 49.9% on a year-over-year basis. Equities analysts predict that Medifast, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. DA Davidson decreased their price target on shares of Medifast from $40.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. TheStreet cut Medifast from a “c” rating to a “d+” rating in a research note 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.