Medifast (NYSE:MED) Releases Earnings Results, Misses Expectations By $0.12 EPS

Medifast (NYSE:MED) announced its earnings results on Monday. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12), Briefing.com reports. The business had revenue of $174.74 million during the quarter, compared to the consensus estimate of $168.90 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. The company’s revenue was down 49.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.67 EPS. Medifast updated its Q2 guidance to $0.05-0.40 EPS and its Q2 2024 guidance to 0.050-0.400 EPS.

Medifast Stock Down 4.3 %

MED stock opened at $26.36 on Thursday. The company has a market cap of $288.32 million, a PE ratio of 4.25 and a beta of 1.19. The business has a 50-day simple moving average of $35.52 and a 200 day simple moving average of $53.93. Medifast has a 52 week low of $25.92 and a 52 week high of $109.52.

Insiders Place Their Bets

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was 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 owns 7,785 shares of the company’s stock, valued at $307,040.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.06% of the company’s stock.

Analyst Ratings Changes

MED has been the subject of a number of analyst reports. 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 note on Tuesday. TheStreet downgraded Medifast from a “c” rating to a “d+” rating in a research note on Wednesday, February 21st.

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.