Medifast (NYSE:MED) Updates FY 2019 Earnings Guidance

Medifast (NYSE:MED) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $6.75-6.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.81. The company issued revenue guidance of $730-750 million, compared to the consensus revenue estimate of $741.07 million.Medifast also updated its FY19 guidance to $6.75-$6.95 EPS.

Several research firms have commented on MED. ValuEngine cut shares of Medifast from a hold rating to a sell rating in a research note on Tuesday, July 9th. Jefferies Financial Group began coverage on shares of Medifast in a research note on Thursday, July 25th. They set a buy rating and a $130.00 target price on the stock. Finally, Zacks Investment Research cut shares of Medifast from a buy rating to a hold rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $191.25.

Medifast stock traded down $7.98 during trading hours on Friday, hitting $103.19. 1,479,976 shares of the company traded hands, compared to its average volume of 257,261. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 22.34 and a beta of 0.71. The firm’s 50-day moving average price is $120.95. Medifast has a 1-year low of $102.68 and a 1-year high of $260.98.

Medifast (NYSE:MED) last released its earnings results on Thursday, August 1st. The specialty retailer reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04. The firm had revenue of $187.10 million for the quarter, compared to analysts’ expectations of $181.74 million. Medifast had a net margin of 11.32% and a return on equity of 57.73%. Medifast’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. As a group, analysts anticipate that Medifast will post 6.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Friday, June 28th will be paid a $0.75 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.00 annualized dividend and a dividend yield of 2.91%. Medifast’s dividend payout ratio is currently 64.94%.

In other news, Director Carl E. Sassano sold 850 shares of Medifast stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $143.94, for a total value of $122,349.00. Following the transaction, the director now owns 17,792 shares of the company’s stock, valued at approximately $2,560,980.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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