Wells Fargo & Company MN raised its position in shares of Medifast Inc (NYSE:MED) by 15.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 71,153 shares of the specialty retailer’s stock after acquiring an additional 9,407 shares during the period. Wells Fargo & Company MN’s holdings in Medifast were worth $9,129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MED. Oregon Public Employees Retirement Fund boosted its stake in Medifast by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,635 shares of the specialty retailer’s stock worth $591,000 after purchasing an additional 84 shares during the period. New York State Teachers Retirement System increased its stake in shares of Medifast by 0.7% in the first quarter. New York State Teachers Retirement System now owns 12,915 shares of the specialty retailer’s stock valued at $1,647,000 after buying an additional 93 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of Medifast by 2.6% in the first quarter. Mason Street Advisors LLC now owns 3,812 shares of the specialty retailer’s stock valued at $486,000 after buying an additional 96 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in Medifast by 4.5% in the first quarter. Piedmont Investment Advisors Inc. now owns 2,973 shares of the specialty retailer’s stock valued at $379,000 after acquiring an additional 129 shares during the last quarter. Finally, Comerica Bank boosted its holdings in Medifast by 1.2% in the first quarter. Comerica Bank now owns 11,768 shares of the specialty retailer’s stock valued at $1,640,000 after acquiring an additional 143 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

MED traded down $0.01 during trading on Friday, hitting $105.01. The stock had a trading volume of 6,188 shares, compared to its average volume of 287,540. The company has a 50 day moving average price of $104.27 and a 200-day moving average price of $126.10. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 22.44 and a beta of 0.70. Medifast Inc has a one year low of $96.40 and a one year high of $260.98.

Medifast (NYSE:MED) last posted its quarterly earnings results on Thursday, August 1st. The specialty retailer reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Medifast had a return on equity of 61.06% and a net margin of 11.22%. The company had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $181.74 million. During the same quarter in the previous year, the firm earned $1.16 EPS. Medifast’s revenue was up 59.5% on a year-over-year basis. As a group, sell-side analysts expect that Medifast Inc will post 6.86 EPS for the current fiscal year.

A number of brokerages have issued reports on MED. ValuEngine cut Medifast from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Jefferies Financial Group began coverage on Medifast in a report on Thursday, July 25th. They set a “buy” rating and a $130.00 price objective on the stock. Finally, Zacks Investment Research raised Medifast from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Tuesday, August 6th.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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Institutional Ownership by Quarter for Medifast (NYSE:MED)

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