Medifast (NYSE:MED) Releases Q2 Earnings Guidance

Medifast (NYSE:MED) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.05-0.40 for the period, compared to the consensus estimate of $0.68. The company issued revenue guidance of $150-170 million, compared to the consensus revenue estimate of $178.50 million. Medifast also updated its Q2 2024 guidance to 0.050-0.400 EPS.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. DA Davidson cut their price objective on Medifast from $67.00 to $40.00 and set a neutral rating on the stock 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.

Medifast Stock Down 23.2 %

Shares of Medifast stock traded down $8.25 on Tuesday, hitting $27.26. 798,471 shares of the company’s stock traded hands, compared to its average volume of 384,123. Medifast has a 52-week low of $26.02 and a 52-week high of $109.52. The stock has a market cap of $297.13 million, a P/E ratio of 2.94 and a beta of 1.14. The firm’s 50-day moving average is $36.23 and its 200 day moving average is $54.44.

Medifast (NYSE:MED) last posted its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). The company had revenue of $174.74 million for the quarter, compared to the consensus estimate of $168.90 million. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The company’s revenue was down 49.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.67 earnings per share. Equities research analysts forecast that Medifast will post 1.91 EPS for the current year.

Insiders Place Their Bets

In related news, Director Scott Schlackman sold 4,053 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $39.44, for a total value of $159,850.32. Following the completion of the sale, the director now owns 7,785 shares of the company’s stock, valued at $307,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.06% of the stock is owned by insiders.

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.