Medifast (NYSE:MED) Updates Q2 Earnings Guidance

Medifast (NYSE:MED) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.05-0.40 for the period, compared to the consensus 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 NYSE:MED traded up $1.81 during midday trading on Monday, hitting $35.53. The company’s stock had a trading volume of 673,900 shares, compared to its average volume of 379,872. The stock’s 50 day simple moving average is $36.52 and its 200 day simple moving average is $54.69. Medifast has a fifty-two week low of $30.95 and a fifty-two week high of $109.52. The stock has a market capitalization of $387.22 million, a price-to-earnings ratio of 3.90 and a beta of 1.14.

Medifast (NYSE:MED) last announced 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. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The business had revenue of $191.02 million for the quarter, compared to the consensus estimate of $184.17 million. During the same quarter last year, the company posted $3.70 earnings per share. Medifast’s quarterly revenue was down 43.4% on a year-over-year basis. As a group, analysts anticipate that Medifast will post 1.91 EPS for the current year.

Analyst Ratings Changes

MED has been the topic of several research reports. TheStreet lowered Medifast from a c rating to a d+ rating in a research note on Wednesday, February 21st. DA Davidson lowered their price objective on Medifast from $67.00 to $40.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st.

Insider Activity at Medifast

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

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.