Medifast (NYSE:MED – Get Free Report) issued its earnings results on Monday. The specialty retailer reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.16, FiscalAI reports. The firm had revenue of $72.05 million during the quarter, compared to the consensus estimate of $71.30 million. Medifast had a negative net margin of 8.08% and a negative return on equity of 6.69%.
Medifast Stock Performance
Shares of MED opened at $11.87 on Monday. The stock has a 50 day simple moving average of $11.95 and a 200 day simple moving average of $11.55. Medifast has a 52-week low of $9.22 and a 52-week high of $13.45. The firm has a market capitalization of $132.71 million, a PE ratio of -5.09 and a beta of 0.68.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Medifast from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Zacks Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.
Check Out Our Latest Stock Report on MED
Insider Buying and Selling
In other Medifast news, Director Daniel Chard sold 9,544 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $11.73, for a total transaction of $111,951.12. Following the sale, the director directly owned 130,609 shares in the company, valued at approximately $1,532,043.57. This trade represents a 6.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Parsa Kiai bought 43,150 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average price of $12.26 per share, for a total transaction of $529,019.00. Following the completion of the acquisition, the director directly owned 707,492 shares in the company, valued at approximately $8,673,851.92. This trade represents a 6.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 119,966 shares of company stock valued at $1,423,576. 3.70% of the stock is owned by company insiders.
About Medifast
Medifast, Inc (NYSE: MED) is a health and wellness company that provides weight-management products, programs and support services. Its primary brand, OPTAVIA, offers meal-replacement products, including shakes, bars, soups and other portion-controlled foods, along with structured plans intended to help customers establish healthier eating and lifestyle habits.
The company distributes its products primarily through an independent network of coaches who provide guidance, accountability and support to clients.
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