Medifast (NYSE:MED) Issues Q2 2024 Earnings Guidance

Medifast (NYSE:MED) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.050-0.400 for the period, compared to the consensus estimate of 0.780. The company issued revenue guidance of $150.0 million-$170.0 million, compared to the consensus revenue estimate of $168.9 million. Medifast also updated its Q2 guidance to $0.05-0.40 EPS.

Medifast Price Performance

Shares of NYSE:MED traded up $1.37 during trading on Thursday, hitting $27.73. 193,354 shares of the company were exchanged, compared to its average volume of 402,167. The stock has a market capitalization of $303.37 million, a P/E ratio of 4.48 and a beta of 1.19. Medifast has a 12-month low of $25.92 and a 12-month high of $109.52. The firm’s 50 day moving average price is $35.52 and its 200-day moving average price is $53.93.

Medifast (NYSE:MED) last issued its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.12). The company had revenue of $174.74 million for the quarter, compared to analysts’ expectations of $168.90 million. Medifast had a return on equity of 36.64% and a net margin of 7.55%. The firm’s quarterly revenue was down 49.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.67 EPS. As a group, equities research analysts anticipate that Medifast will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MED. TheStreet downgraded shares of Medifast from a c rating to a d+ rating in a research report on Wednesday, February 21st. DA Davidson reduced their price target on shares of Medifast from $40.00 to $25.00 and set a neutral rating for the company in a research report on Tuesday.

Insider Buying and Selling at Medifast

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $39.44, for a total value of $159,850.32. Following the transaction, the director now directly owns 7,785 shares of the company’s stock, valued at approximately $307,040.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.06% of the stock is currently owned by corporate insiders.

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.