Medifast (NYSE:MED) Updates FY 2021 Earnings Guidance

Medifast (NYSE:MED) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $13.270-$13.960 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $13.930. The company issued revenue guidance of $1.51 billion-$1.53 billion, compared to the consensus revenue estimate of $1.52 billion.

NYSE:MED traded up $0.95 on Thursday, reaching $220.23. 54,942 shares of the company’s stock were exchanged, compared to its average volume of 121,415. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 16.51 and a beta of 1.42. The business has a fifty day moving average of $207.30 and a 200-day moving average of $249.16. Medifast has a 52-week low of $183.46 and a 52-week high of $336.99.

Medifast (NYSE:MED) last issued its quarterly earnings results on Thursday, November 4th. The specialty retailer reported $3.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.64. Medifast had a net margin of 11.18% and a return on equity of 87.41%. The company had revenue of $413.40 million for the quarter, compared to analyst estimates of $402.80 million. During the same period in the prior year, the firm earned $2.91 earnings per share. The business’s revenue for the quarter was up 52.3% compared to the same quarter last year. As a group, research analysts anticipate that Medifast will post 13.65 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 8th. Investors of record on Tuesday, September 21st were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Monday, September 20th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.58%. Medifast’s payout ratio is 42.58%.

MED has been the topic of several recent analyst reports. DA Davidson dropped their price target on shares of Medifast from $395.00 to $349.00 and set a buy rating on the stock in a research note on Monday, November 8th. Zacks Investment Research lowered shares of Medifast from a buy rating to a hold rating and set a $200.00 price target on the stock. in a research note on Tuesday, October 5th.

In related news, Director Jeffrey J. Brown purchased 4,200 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The stock was purchased at an average cost of $231.89 per share, with a total value of $973,938.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

An institutional investor recently raised its position in Medifast stock. Morgan Stanley raised its holdings in Medifast, Inc. (NYSE:MED) by 15.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 152,020 shares of the specialty retailer’s stock after acquiring an additional 20,606 shares during the quarter. Morgan Stanley owned 1.30% of Medifast worth $43,019,000 as of its most recent filing with the SEC. 83.98% of the stock is owned by institutional investors.

Medifast Company Profile

Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand-a highly competitive and effective lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The company was founded by William Vitale in 1981 and is headquartered in Baltimore, MD.

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Earnings History and Estimates for Medifast (NYSE:MED)

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