Medifast (MED) Set to Announce Quarterly Earnings on Monday

Medifast (NYSE:MED) is set to issue its quarterly earnings data after the market closes on Monday, April 29th. Analysts expect the company to announce 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.Parties that are interested in registering for the company’s conference call can do so using this link.

Medifast (NYSE:MED) last announced its earnings results on Tuesday, February 20th. The specialty retailer reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The company 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 business earned $3.70 earnings per share. The firm’s quarterly 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 Stock Performance

Shares of NYSE:MED opened at $33.71 on Friday. Medifast has a 52-week low of $30.95 and a 52-week high of $109.52. The firm has a fifty day moving average of $36.52 and a 200 day moving average of $54.82. The firm has a market capitalization of $367.44 million, a PE ratio of 3.70 and a beta of 1.14.

Insider Activity

In other 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 transaction of $159,850.32. Following the completion of the transaction, the director now directly owns 7,785 shares of the company’s stock, valued at $307,040.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MED. TheStreet lowered shares of Medifast from a “c” rating to a “d+” rating in a research report on Wednesday, February 21st. DA Davidson cut their price target on shares of Medifast from $67.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st.

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.