Medifast (NYSE:MED) Announces Earnings Results

Medifast (NYSE:MED) posted its earnings results on Monday. The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.12), Briefing.com reports. The company had revenue of $174.74 million for the quarter, compared to the consensus estimate of $168.90 million. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The firm’s revenue for the quarter was down 49.9% compared to the same quarter last year. During the same period last year, the company posted $3.67 earnings per share. Medifast updated its Q2 guidance to $0.05-0.40 EPS and its Q2 2024 guidance to 0.050-0.400 EPS.

Medifast Trading Up 5.4 %

MED opened at $35.53 on Tuesday. The business’s 50 day moving average is $36.23 and its 200-day moving average is $54.44. The stock has a market cap of $387.22 million, a PE ratio of 3.90 and a beta of 1.14. Medifast has a twelve month low of $30.95 and a twelve month high of $109.52.

Insider Buying and Selling

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $39.44, for a total transaction of $159,850.32. Following the transaction, the director now owns 7,785 shares of the company’s stock, valued at approximately $307,040.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. TheStreet downgraded Medifast from a “c” rating to a “d+” rating in a research note on Wednesday, February 21st. DA Davidson reduced their price target on shares of Medifast from $67.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st.

About Medifast

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.