Medifast (MED) Scheduled to Post Quarterly Earnings on Monday

Medifast (NYSE:MED) is scheduled to be posting its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Medifast to post earnings of $0.58 per share for the quarter. Medifast has set its Q1 guidance at $0.25-0.95 EPS and its Q1 2024 guidance at 0.250-0.950 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Medifast (NYSE:MED) last issued its earnings results on Tuesday, February 20th. The specialty retailer reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Medifast had a return on equity of 56.06% and a net margin of 9.27%. The business had revenue of $191.02 million during the quarter, compared to analyst estimates of $184.17 million. During the same period in the previous year, the company posted $3.70 EPS. The firm’s revenue was down 43.4% compared to the same quarter last year. On average, analysts expect Medifast to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Medifast Price Performance

Shares of Medifast stock opened at $33.72 on Friday. Medifast has a one year low of $30.95 and a one year high of $109.52. The firm has a market capitalization of $367.55 million, a price-to-earnings ratio of 3.70 and a beta of 1.14. The business has a 50-day simple moving average of $36.52 and a 200 day simple moving average of $54.95.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MED. DA Davidson decreased their target price on Medifast from $67.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. TheStreet lowered Medifast from a “c” rating to a “d+” rating in a research report on Wednesday, February 21st.

Insider Buying and Selling at Medifast

In other Medifast news, Director Scott Schlackman sold 4,053 shares of Medifast stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $39.44, for a total transaction of $159,850.32. Following the completion of the transaction, 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 available through the SEC website. Company insiders own 2.06% of the company’s stock.

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.