Medifast (NYSE:MED) Issues Q2 Earnings Guidance

Medifast (NYSE:MED) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.05-0.40 for the period, compared to the consensus earnings per share 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.

Medifast Stock Up 5.4 %

MED stock traded up $1.81 during midday trading on Monday, reaching $35.53. 673,900 shares of the company’s stock traded hands, compared to its average volume of 379,872. Medifast has a 52 week low of $30.95 and a 52 week high of $109.52. The company has a market cap of $387.22 million, a price-to-earnings ratio of 3.90 and a beta of 1.14. The firm’s fifty day moving average price is $36.52 and its 200-day moving average price is $54.69.

Medifast (NYSE:MED) last announced its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $191.02 million during the quarter, compared to the consensus estimate of $184.17 million. Medifast had a return on equity of 56.06% and a net margin of 9.27%. The business’s revenue for the quarter was down 43.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 EPS. Analysts forecast that Medifast will post 1.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. DA Davidson decreased their target price on shares of Medifast from $67.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. TheStreet lowered shares of Medifast from a c rating to a d+ rating in a report on Wednesday, February 21st.

Insider Transactions at Medifast

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 transaction, the director now owns 7,785 shares in the company, valued at $307,040.40. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.