Bridgeway Capital Management LLC Buys New Holdings in Medifast, Inc. (NYSE:MED)

Bridgeway Capital Management LLC purchased a new position in Medifast, Inc. (NYSE:MED - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the specialty retailer's stock, valued at approximately $352,000. Bridgeway Capital Management LLC owned 0.18% of Medifast at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in shares of Medifast by 23.5% in the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer's stock worth $114,000 after purchasing an additional 1,227 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Medifast by 2,308.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,442 shares of the specialty retailer's stock valued at $202,000 after buying an additional 10,967 shares in the last quarter. Barclays PLC grew its holdings in Medifast by 15.1% during the 4th quarter. Barclays PLC now owns 16,194 shares of the specialty retailer's stock valued at $285,000 after buying an additional 2,127 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Medifast by 4.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer's stock worth $301,000 after acquiring an additional 674 shares during the last quarter. Finally, Amundi purchased a new stake in shares of Medifast during the 4th quarter worth approximately $374,000. 95.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MED. DA Davidson cut their target price on shares of Medifast from $17.00 to $16.50 and set a "neutral" rating for the company in a report on Wednesday, February 19th. StockNews.com raised shares of Medifast from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st.

Medifast Price Performance

Shares of NYSE MED opened at $13.12 on Tuesday. Medifast, Inc. has a 1-year low of $11.57 and a 1-year high of $27.16. The business's 50 day moving average is $13.24 and its two-hundred day moving average is $15.78. The stock has a market capitalization of $144.20 million, a P/E ratio of 72.89 and a beta of 0.96.

Medifast (NYSE:MED - Get Free Report) last released its earnings results on Monday, April 28th. The specialty retailer reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The firm had revenue of $115.73 million during the quarter, compared to the consensus estimate of $114.85 million. Medifast had a return on equity of 10.64% and a net margin of 0.35%. As a group, equities research analysts anticipate that Medifast, Inc. will post 0.51 earnings per share for the current fiscal year.

Medifast Company 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.

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