Medifast (NYSE:MED) Issues Quarterly Earnings Results

Medifast (NYSE:MED) announced its earnings results on Monday. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.50, Zacks reports. Medifast had a net margin of 3.81% and a return on equity of 25.77%. The company had revenue of $140.16 million for the quarter, compared to the consensus estimate of $135.45 million. During the same period in the previous year, the business earned $2.12 EPS. Medifast updated its Q4 2024 guidance to 0.100-0.650 EPS.

Medifast Trading Up 8.0 %

MED stock traded up $1.51 during midday trading on Tuesday, reaching $20.32. The company had a trading volume of 397,814 shares, compared to its average volume of 390,600. The company has a market capitalization of $222.30 million, a P/E ratio of 7.62 and a beta of 1.13. Medifast has a 1 year low of $17.07 and a 1 year high of $76.42. The company has a 50 day moving average of $18.43 and a two-hundred day moving average of $21.00.

Analyst Ratings Changes

Separately, DA Davidson upgraded Medifast from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $16.50 to $17.00 in a research report on Tuesday.

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.