Medifast, Inc. to Post FY2024 Earnings of $1.87 Per Share, Zacks Research Forecasts (NYSE:MED)

Medifast, Inc. (NYSE:MED) – Equities research analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of Medifast in a research note issued on Monday, August 26th. Zacks Research analyst A. Mohta now anticipates that the specialty retailer will post earnings of $1.87 per share for the year, up from their prior forecast of $1.33. The consensus estimate for Medifast’s current full-year earnings is $1.15 per share. Zacks Research also issued estimates for Medifast’s Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.43 EPS, FY2025 earnings at $1.53 EPS, Q1 2026 earnings at $0.48 EPS, Q2 2026 earnings at $0.50 EPS and FY2026 earnings at $2.14 EPS.

Separately, DA Davidson reaffirmed an “underperform” rating and set a $17.50 target price on shares of Medifast in a report on Monday, July 22nd.

Medifast Stock Down 1.6 %

Shares of Medifast stock opened at $18.30 on Thursday. The stock has a market cap of $200.20 million, a price-to-earnings ratio of 2.95 and a beta of 1.15. Medifast has a twelve month low of $17.86 and a twelve month high of $86.89. The company’s fifty day moving average is $19.59 and its 200 day moving average is $27.56.

Medifast (NYSE:MED) last released its quarterly earnings data on Monday, August 5th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.56. Medifast had a return on equity of 25.77% and a net margin of 3.81%. The company had revenue of $168.56 million during the quarter, compared to the consensus estimate of $160.44 million. During the same quarter in the prior year, the firm posted $2.77 earnings per share.

Institutional Investors Weigh In On Medifast

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Medifast by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 1,686,957 shares of the specialty retailer’s stock valued at $113,397,000 after acquiring an additional 113,734 shares during the last quarter. Renaissance Technologies LLC grew its stake in Medifast by 20.3% during the second quarter. Renaissance Technologies LLC now owns 958,610 shares of the specialty retailer’s stock worth $20,917,000 after purchasing an additional 161,487 shares during the period. Millennium Management LLC increased its holdings in Medifast by 37.8% in the second quarter. Millennium Management LLC now owns 469,216 shares of the specialty retailer’s stock worth $10,238,000 after purchasing an additional 128,719 shares in the last quarter. First Trust Advisors LP increased its holdings in Medifast by 67.3% in the fourth quarter. First Trust Advisors LP now owns 397,443 shares of the specialty retailer’s stock worth $26,716,000 after purchasing an additional 159,817 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Medifast by 117.5% in the second quarter. AQR Capital Management LLC now owns 389,951 shares of the specialty retailer’s stock valued at $8,509,000 after buying an additional 210,669 shares during the period. 95.51% of the stock is owned by institutional investors.

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.