Medifast (NYSE:MED) Updates 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 guidance of 0.050-0.400 for the period, compared to the consensus earnings per share 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 Stock Up 5.4 %

Shares of Medifast stock traded up $1.81 during trading hours on Monday, hitting $35.53. The company’s stock had a trading volume of 673,900 shares, compared to its average volume of 379,872. Medifast has a 1-year low of $30.95 and a 1-year high of $109.52. The business has a fifty day moving average of $36.52 and a 200 day moving average of $54.69. The company has a market capitalization of $387.22 million, a PE ratio of 3.90 and a beta of 1.14.

Medifast (NYSE:MED) last released its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The company had revenue of $191.02 million during the quarter, compared to analyst estimates of $184.17 million. The business’s quarterly revenue was down 43.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. On average, sell-side analysts anticipate that Medifast will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. DA Davidson lowered 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. TheStreet lowered shares of Medifast from a c rating to a d+ rating in a report on Wednesday, February 21st.

Insider Buying and Selling at Medifast

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the stock in a transaction on 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 directly owns 7,785 shares in the company, valued at approximately $307,040.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.06% of the stock is currently owned by 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.