Medifast (NYSE:MED) Updates Q2 2024 Earnings Guidance

Medifast (NYSE:MED) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.050-0.400 for the period, compared to the consensus EPS 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 Stock Up 5.2 %

Shares of MED stock traded up $1.37 on Thursday, reaching $27.73. The stock had a trading volume of 193,354 shares, compared to its average volume of 402,167. The firm’s 50-day moving average is $35.52 and its two-hundred day moving average is $53.93. The firm has a market capitalization of $303.37 million, a price-to-earnings ratio of 4.48 and a beta of 1.19. Medifast has a 12 month low of $25.92 and a 12 month high of $109.52.

Medifast (NYSE:MED) last announced its earnings results on Monday, April 29th. The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.12). Medifast had a return on equity of 36.64% and a net margin of 7.55%. The business had revenue of $174.74 million for the quarter, compared to the consensus estimate of $168.90 million. During the same period in the prior year, the business posted $3.67 earnings per share. The firm’s revenue for the quarter was down 49.9% compared to the same quarter last year. On average, sell-side analysts forecast that Medifast will post 1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MED. DA Davidson lowered their target price on shares of Medifast from $40.00 to $25.00 and set a neutral rating on the stock in a report on Tuesday. TheStreet cut shares of Medifast from a c rating to a d+ rating in a report on Wednesday, February 21st.

Insider Buying and Selling

In related news, Director Scott Schlackman sold 4,053 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $39.44, for a total transaction of $159,850.32. Following the sale, the director now owns 7,785 shares in the company, valued at approximately $307,040.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.06% of the stock is currently owned by company 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.