Medifast, Inc. Forecasted to Post FY2024 Earnings of $0.75 Per Share (NYSE:MED)

Medifast, Inc. (NYSE:MED) – Analysts at DA Davidson reduced their FY2024 earnings estimates for shares of Medifast in a note issued to investors on Tuesday, April 30th. DA Davidson analyst L. Weiser now expects that the specialty retailer will earn $0.75 per share for the year, down from their previous estimate of $1.86. DA Davidson has a “Neutral” rating and a $25.00 price objective on the stock. The consensus estimate for Medifast’s current full-year earnings is $1.91 per share. DA Davidson also issued estimates for Medifast’s FY2025 earnings at $2.25 EPS.

Separately, TheStreet cut shares of Medifast from a “c” rating to a “d+” rating in a report on Wednesday, February 21st.

Medifast Stock Down 4.3 %

Shares of NYSE MED opened at $26.36 on Thursday. Medifast has a fifty-two week low of $25.92 and a fifty-two week high of $109.52. The stock has a market cap of $288.32 million, a P/E ratio of 4.25 and a beta of 1.19. The firm’s 50-day simple moving average is $35.52 and its 200 day simple moving average is $53.93.

Medifast (NYSE:MED) last issued its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). The business had revenue of $174.74 million during the quarter, compared to the consensus estimate of $168.90 million. Medifast had a return on equity of 36.64% and a net margin of 7.55%. The business’s quarterly revenue was down 49.9% compared to the same quarter last year. During the same period last year, the company earned $3.67 earnings per share.

Hedge Funds Weigh In On Medifast

A number of hedge funds and other institutional investors have recently modified their holdings of MED. CWM LLC lifted its position in shares of Medifast by 223.8% in the 3rd quarter. CWM LLC now owns 531 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 367 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Medifast by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock valued at $177,000 after purchasing an additional 911 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of Medifast in the third quarter worth $208,000. Triumph Capital Management purchased a new position in shares of Medifast during the fourth quarter valued at $213,000. Finally, Vest Financial LLC acquired a new position in Medifast during the fourth quarter valued at $232,000. Institutional investors and hedge funds own 95.51% of the company’s stock.

Insider Activity at Medifast

In other Medifast 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 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 available through this hyperlink. Company insiders own 2.06% of the company’s stock.

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.