20,064 Shares in Medifast, Inc. (NYSE:MED) Acquired by Burney Co.

Burney Co. purchased a new position in Medifast, Inc. (NYSE:MED) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,064 shares of the specialty retailer’s stock, valued at approximately $769,000. Burney Co. owned approximately 0.18% of Medifast as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MED. Swedbank AB acquired a new position in Medifast during the 1st quarter worth approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Medifast by 53.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock worth $177,000 after purchasing an additional 911 shares in the last quarter. Triumph Capital Management purchased a new position in Medifast in the fourth quarter valued at $213,000. Virtu Financial LLC acquired a new stake in Medifast in the first quarter valued at $229,000. Finally, Aigen Investment Management LP lifted its holdings in Medifast by 5.7% during the 4th quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock worth $249,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Medifast Stock Down 0.9 %

MED traded down $0.19 on Friday, reaching $21.47. The company had a trading volume of 317,149 shares, compared to its average volume of 367,816. Medifast, Inc. has a 1 year low of $17.86 and a 1 year high of $102.30. The stock has a market capitalization of $234.88 million, a PE ratio of 3.46 and a beta of 1.15. The stock has a 50-day moving average price of $20.72 and a 200-day moving average price of $32.44.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued an “underperform” rating and set a $17.50 target price on shares of Medifast in a research report on Monday, July 22nd.

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.