Bank of America Corp DE Purchases New Holdings in Medifast Inc $MED

Key Points

• Bank of America purchased 87,118 Medifast shares during the second quarter, valued at approximately $924,000 and representing about 0.78% of the company. Institutional investors collectively own 95.51% of Medifast.
• Insider activity was mixed: Director Parsa Kiai bought 43,150 shares, while Director Daniel Chard sold 9,545 shares under a pre-arranged trading plan. Insiders bought 119,966 shares over the past 90 days.
• Analysts maintain a cautious outlook, with Medifast carrying an average “Reduce” rating and a $12.00 consensus price target. The company recently beat quarterly EPS and revenue estimates but continues to report negative margins and expects a loss for the fiscal year.

Bank of America Corp DE purchased a new position in shares of Medifast Inc (NYSE:MED - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 87,118 shares of the specialty retailer's stock, valued at approximately $924,000. Bank of America Corp DE owned approximately 0.78% of Medifast as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Wyoming increased its stake in shares of Medifast by 19.8% in the 1st quarter. State of Wyoming now owns 6,646 shares of the specialty retailer's stock worth $68,000 after acquiring an additional 1,097 shares during the last quarter. Ancora Advisors LLC purchased a new position in Medifast during the second quarter worth about $75,000. Ieq Capital LLC acquired a new stake in shares of Medifast during the second quarter valued at about $114,000. Marquette Asset Management LLC acquired a new stake in shares of Medifast during the second quarter valued at about $319,000. Finally, PDT Partners LLC purchased a new stake in shares of Medifast in the 2nd quarter valued at approximately $348,000. Hedge funds and other institutional investors own 95.51% of the company's stock.

Insider Transactions at Medifast

In related news, Director Daniel Chard sold 9,545 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $11.98, for a total transaction of $114,349.10. Following the sale, the director owned 140,153 shares in the company, valued at $1,679,032.94. This represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Parsa Kiai purchased 43,150 shares of Medifast stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average cost of $12.26 per share, with a total value of $529,019.00. Following the acquisition, the director owned 707,492 shares of the company's stock, valued at approximately $8,673,851.92. This trade represents a 6.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 119,966 shares of company stock worth $1,423,576. Insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MED shares. Weiss Ratings raised Medifast from a "sell (e+)" rating to a "sell (d)" rating in a research report on Monday, August 17th. Zacks Research cut shares of Medifast from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $12.00.

Medifast Stock Performance

MED stock opened at $11.73 on Friday. The company has a 50 day moving average price of $11.75 and a two-hundred day moving average price of $11.35. The stock has a market capitalization of $131.14 million, a P/E ratio of -5.03 and a beta of 0.68. Medifast Inc has a one year low of $9.22 and a one year high of $14.15.

Medifast (NYSE:MED - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The specialty retailer reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.37. The company had revenue of $76.38 million during the quarter, compared to analysts' expectations of $72.70 million. Medifast had a negative return on equity of 6.69% and a negative net margin of 8.08%.Medifast has set its FY 2026 guidance at -1.750--0.250 EPS and its Q3 2026 guidance at -0.650--0.150 EPS. Research analysts forecast that Medifast Inc will post -1.04 earnings per share for the current fiscal year.

Medifast Profile

Medifast, Inc NYSE: MED is a health and wellness company that provides weight-management and healthy-lifestyle products and programs. Its principal brand is OPTAVIA, which offers structured plans designed to support weight loss, nutrition, and long-term habit development.

The company's product portfolio includes meal-replacement shakes, bars, snacks, entrees, beverages, supplements, and other packaged “Fuelings.” Medifast also supports customers through independent OPTAVIA Coaches, who provide guidance, accountability, and lifestyle support through the company's direct-selling model.

Founded in 1980, Medifast serves customers primarily in the United States through its e-commerce and direct-to-consumer channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.