Medifast (NYSE:MED) Releases 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 (EPS) guidance of 0.050-0.400 for the period, compared to the consensus 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 Price Performance

Shares of Medifast stock traded up $1.81 during trading on Monday, hitting $35.53. 673,900 shares of the stock were exchanged, compared to its average volume of 379,872. The stock has a market cap of $387.22 million, a price-to-earnings ratio of 3.90 and a beta of 1.14. The firm’s 50-day moving average price is $36.52 and its 200 day moving average price is $54.69. Medifast has a 12-month low of $30.95 and a 12-month high of $109.52.

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. The business had revenue of $191.02 million during the quarter, compared to analysts’ expectations of $184.17 million. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The company’s revenue for the quarter was down 43.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.70 EPS. As a group, research analysts forecast that Medifast will post 1.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MED shares. TheStreet cut shares of Medifast from a c rating to a d+ rating in a research report on Wednesday, February 21st. DA Davidson decreased their price objective on shares of Medifast from $67.00 to $40.00 and set a neutral rating for the company in a research report on Wednesday, February 21st.

Insider Activity at Medifast

In related news, Director Scott Schlackman sold 4,053 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $39.44, for a total value of $159,850.32. Following the completion of the sale, the director now directly owns 7,785 shares of the company’s stock, valued at $307,040.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.06% of the stock is owned by corporate 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.