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 interested in registering for the company’s conference call can do so using this link.

Medifast (NYSE:MED) last announced its quarterly earnings results 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 company had revenue of $191.02 million for the quarter, compared to the consensus estimate of $184.17 million. Medifast had a net margin of 9.27% and a return on equity of 56.06%. Medifast’s revenue for the quarter was down 43.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 EPS. 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. The company has a market cap of $367.44 million, a P/E ratio of 3.70 and a beta of 1.14. The firm’s fifty day moving average is $36.52 and its two-hundred day moving average is $54.82. Medifast has a 52-week low of $30.95 and a 52-week high of $109.52.

Insiders Place Their Bets

In other Medifast news, Director Scott Schlackman sold 4,053 shares of Medifast stock in a transaction on 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 transaction, the director now directly owns 7,785 shares of the company’s stock, valued at approximately $307,040.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TheStreet cut shares of Medifast from a “c” rating to a “d+” rating in a research note on Wednesday, February 21st. DA Davidson dropped their price objective on shares of Medifast from $67.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st.

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.