Axa S.A. trimmed its position in Medifast, Inc. (NYSE:MED – Get Rating) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,775 shares of the specialty retailer’s stock after selling 1,700 shares during the period. Axa S.A. owned approximately 0.07% of Medifast worth $842,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of MED. Copeland Capital Management LLC acquired a new position in Medifast during the third quarter valued at $28,000. Wipfli Financial Advisors LLC acquired a new position in Medifast during the third quarter valued at $70,000. Rockefeller Capital Management L.P. lifted its position in Medifast by 6,509.1% during the third quarter. Rockefeller Capital Management L.P. now owns 727 shares of the specialty retailer’s stock valued at $78,000 after purchasing an additional 716 shares during the period. Tower Research Capital LLC TRC increased its holdings in Medifast by 76.6% in the third quarter. Tower Research Capital LLC TRC now owns 869 shares of the specialty retailer’s stock valued at $94,000 after buying an additional 377 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Medifast by 114.6% in the first quarter. Captrust Financial Advisors now owns 648 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 346 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.
Medifast Trading Up 0.4 %
Shares of NYSE MED opened at $112.13 on Wednesday. Medifast, Inc. has a 12-month low of $96.00 and a 12-month high of $197.19. The stock has a market cap of $1.22 billion, a PE ratio of 8.84 and a beta of 1.17. The company has a 50-day moving average of $115.23 and a 200 day moving average of $117.87.
Medifast Announces Dividend
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. DA Davidson cut their price objective on shares of Medifast from $106.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, February 22nd. StockNews.com cut shares of Medifast from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd.
Insider Activity at Medifast
In other Medifast news, Director Jeffrey J. Brown acquired 571 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was bought at an average price of $116.11 per share, with a total value of $66,298.81. Following the purchase, the director now owns 37,014 shares in the company, valued at $4,297,695.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.
Medifast Company Profile
Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand, a lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The firm’s product line includes bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups.
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