Medifast (NYSE:MED) Releases Earnings Results, Beats Estimates By $0.50 EPS

Medifast (NYSE:MED) posted its quarterly earnings results on Monday. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.50, Zacks reports. Medifast had a net margin of 1.09% and a return on equity of 16.01%. The business had revenue of $140.16 million during the quarter, compared to the consensus estimate of $135.45 million. During the same quarter last year, the firm posted $2.12 EPS. Medifast updated its Q4 2024 guidance to 0.100-0.650 EPS.

Medifast Trading Up 2.3 %

Shares of MED traded up $0.46 during trading hours on Thursday, reaching $20.16. 72,801 shares of the stock traded hands, compared to its average volume of 389,573. Medifast has a 52 week low of $17.07 and a 52 week high of $76.42. The company has a market cap of $220.55 million, a price-to-earnings ratio of 29.85 and a beta of 1.13. The stock has a fifty day simple moving average of $18.48 and a 200 day simple moving average of $20.91.

Analysts Set New Price Targets

Separately, DA Davidson upgraded shares of Medifast from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $16.50 to $17.00 in a report on Tuesday.

About Medifast

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.