Federated Hermes Inc. Sells 103,703 Shares of Medifast Inc (NYSE:MED)

Key Points

• Federated Hermes Inc. reduced its stake in MEDIFAST INC by 37.1%, owning 175,770 shares after selling 103,703 shares in the 1st quarter.
• The company's stock price fell by 1.0%, trading at $12.94, with a market cap of $142.19 million, and a PE ratio of 40.43.
• Despite recent challenges, Wall Street Zen upgraded MEDIFAST from a "hold" to a "buy" rating on May 1st, indicating a positive outlook.

Federated Hermes Inc. decreased its stake in Medifast Inc (NYSE:MED - Free Report) by 37.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,770 shares of the specialty retailer's stock after selling 103,703 shares during the period. Federated Hermes Inc. owned 1.60% of Medifast worth $2,369,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Medifast by 3,207.2% during the 1st quarter. GAMMA Investing LLC now owns 3,208 shares of the specialty retailer's stock worth $43,000 after acquiring an additional 3,111 shares during the last quarter. Wells Fargo & Company MN grew its position in Medifast by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer's stock worth $114,000 after buying an additional 1,227 shares in the last quarter. State of Wyoming lifted its position in shares of Medifast by 286.1% during the 4th quarter. State of Wyoming now owns 11,312 shares of the specialty retailer's stock valued at $199,000 after acquiring an additional 8,382 shares during the period. Barclays PLC raised its stake in Medifast by 15.1% in the fourth quarter. Barclays PLC now owns 16,194 shares of the specialty retailer's stock valued at $285,000 after purchasing an additional 2,127 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Medifast in the 4th quarter valued at approximately $352,000. 95.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Medifast from a "hold" rating to a "buy" rating in a report on Thursday, May 1st.

Medifast Stock Up 0.8%

MED traded up $0.10 during trading on Friday, reaching $12.84. 157,556 shares of the stock traded hands, compared to its average volume of 230,550. The stock's 50-day moving average is $13.88 and its 200 day moving average is $13.92. Medifast Inc has a 12 month low of $11.57 and a 12 month high of $21.98. The stock has a market capitalization of $141.08 million, a PE ratio of 40.11 and a beta of 0.80.

Medifast (NYSE:MED - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The specialty retailer reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.26. The firm had revenue of $105.56 million for the quarter, compared to analysts' expectations of $96.10 million. Medifast had a return on equity of 2.00% and a net margin of 0.76%. As a group, equities research analysts anticipate that Medifast Inc will post 0.51 EPS for the current 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.