Medifast (NYSE:MED) Issues Q2 Earnings Guidance

Medifast (NYSE:MED) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.05-0.40 for the period, compared to the consensus earnings per share estimate of $0.68. The company issued revenue guidance of $150-170 million, compared to the consensus revenue estimate of $178.50 million. Medifast also updated its Q2 2024 guidance to 0.050-0.400 EPS.

Medifast Stock Performance

Shares of MED stock opened at $26.36 on Thursday. The stock has a fifty day moving average price of $35.52 and a 200 day moving average price of $53.93. The stock has a market cap of $288.32 million, a PE ratio of 4.25 and a beta of 1.19. Medifast has a 1 year low of $25.92 and a 1 year high of $109.52.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. TheStreet cut shares of Medifast from a c rating to a d+ rating in a research note on Wednesday, February 21st. DA Davidson dropped their price target on Medifast from $40.00 to $25.00 and set a neutral rating for the company in a research report on Tuesday.

Insider Transactions at Medifast

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $39.44, for a total transaction of $159,850.32. Following the transaction, the director now owns 7,785 shares of the company’s stock, valued at approximately $307,040.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.06% of the company’s stock.

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.