Equities Analysts Issue Forecasts for Medifast, Inc.’s FY2024 Earnings (NYSE:MED)

Medifast, Inc. (NYSE:MED) – Stock analysts at DA Davidson cut their FY2024 earnings estimates for Medifast in a research note issued to investors on Tuesday, April 30th. DA Davidson analyst L. Weiser now forecasts that the specialty retailer will post earnings of $0.75 per share for the year, down from their prior forecast of $1.86. DA Davidson currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for Medifast’s current full-year earnings is $1.91 per share. DA Davidson also issued estimates for Medifast’s FY2025 earnings at $2.25 EPS.

Separately, TheStreet cut shares of Medifast from a “c” rating to a “d+” rating in a report on Wednesday, February 21st.

Medifast Price Performance

Shares of MED stock opened at $26.36 on Thursday. The company has a fifty day moving average price of $35.52 and a two-hundred day moving average price of $53.93. Medifast has a one year low of $25.92 and a one year high of $109.52. The stock has a market cap of $288.32 million, a P/E ratio of 4.25 and a beta of 1.19.

Medifast (NYSE:MED) last released its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.12). The company had revenue of $174.74 million during the quarter, compared to analyst estimates of $168.90 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. The company’s quarterly revenue was down 49.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 EPS.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MED. CWM LLC lifted its holdings in shares of Medifast by 223.8% during the third quarter. CWM LLC now owns 531 shares of the specialty retailer’s stock worth $40,000 after buying an additional 367 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Medifast by 53.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock worth $177,000 after purchasing an additional 911 shares during the period. Olympiad Research LP bought a new position in shares of Medifast during the third quarter worth approximately $208,000. Triumph Capital Management acquired a new stake in shares of Medifast in the fourth quarter valued at approximately $213,000. Finally, Vest Financial LLC bought a new stake in shares of Medifast in the fourth quarter valued at approximately $232,000. 95.51% of the stock is owned by institutional investors.

Insider Activity at Medifast

In other Medifast news, Director Scott Schlackman sold 4,053 shares of Medifast 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 completion of the transaction, the director now directly owns 7,785 shares of the company’s stock, valued at $307,040.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.06% of the stock is owned by company insiders.

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.