Medifast (NYSE:MED) Announces Earnings Results

Medifast (NYSE:MED) issued its quarterly earnings results on Monday. The specialty retailer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.56, Zacks reports. The business had revenue of $168.56 million for the quarter, compared to analysts’ expectations of $160.44 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. During the same quarter in the prior year, the firm posted $2.77 earnings per share. Medifast updated its Q3 2024 guidance to -0.700–0.050 EPS.

Medifast Price Performance

NYSE:MED traded down $0.59 during trading hours on Tuesday, hitting $20.27. The stock had a trading volume of 615,019 shares, compared to its average volume of 468,735. The company has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $31.89. Medifast has a one year low of $17.86 and a one year high of $100.00. The firm has a market capitalization of $221.69 million, a price-to-earnings ratio of 3.27 and a beta of 1.15.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed an “underperform” rating and issued a $17.50 price target on shares of Medifast in a research report on Monday, July 22nd.

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.