Bank of America Corp DE Has $4.87 Million Position in Medifast, Inc. (NYSE:MED)

Bank of America Corp DE lessened its position in Medifast, Inc. (NYSE:MED - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 276,081 shares of the specialty retailer's stock after selling 38,647 shares during the period. Bank of America Corp DE owned approximately 2.52% of Medifast worth $4,865,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MED. Nisa Investment Advisors LLC raised its stake 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 acquiring an additional 10,967 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Medifast by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer's stock valued at $301,000 after buying an additional 674 shares during the period. Prescott Group Capital Management L.L.C. bought a new position in Medifast during the fourth quarter valued at about $1,938,000. Amundi bought a new position in shares of Medifast during the 4th quarter valued at about $374,000. Finally, American Century Companies Inc. lifted its stake in Medifast by 3.4% during the fourth quarter. American Century Companies Inc. now owns 244,185 shares of the specialty retailer's stock valued at $4,303,000 after purchasing an additional 8,058 shares during the last quarter. 95.51% of the stock is currently owned by institutional investors.

Medifast Stock Performance

Shares of NYSE:MED traded up $0.16 during mid-day trading on Friday, hitting $14.10. The stock had a trading volume of 238,564 shares, compared to its average volume of 287,380. The company's 50 day moving average is $13.05 and its 200-day moving average is $15.26. Medifast, Inc. has a 12-month low of $11.57 and a 12-month high of $26.07. The company has a market cap of $154.97 million, a PE ratio of 78.33 and a beta of 0.96.

Medifast (NYSE:MED - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $114.85 million. Medifast had a net margin of 0.35% and a return on equity of 10.64%. On average, equities research analysts predict that Medifast, Inc. will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

MED has been the topic of several research reports. DA Davidson dropped their price target on Medifast from $17.00 to $16.50 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wall Street Zen upgraded Medifast from a "hold" rating to a "buy" rating in a report on Thursday, May 1st.

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.