Medifast (NYSE:MED) Posts Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Medifast (NYSE:MED) released its earnings results on Monday. The specialty retailer reported $0.35 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.50, Zacks reports. The business had revenue of $140.16 million for the quarter, compared to the consensus estimate of $135.45 million. Medifast had a net margin of 1.09% and a return on equity of 16.01%. During the same period last year, the firm posted $2.12 earnings per share. Medifast updated its Q4 2024 guidance to 0.100-0.650 EPS.

Medifast Trading Down 3.4 %

MED stock traded down $0.70 during mid-day trading on Wednesday, reaching $19.70. The company’s stock had a trading volume of 296,689 shares, compared to its average volume of 391,046. Medifast has a 12 month low of $17.07 and a 12 month high of $76.42. The business’s 50 day moving average price is $18.48 and its 200 day moving average price is $20.91. The company has a market cap of $215.52 million, a price-to-earnings ratio of 29.85 and a beta of 1.13.

Wall Street Analyst Weigh In

Separately, DA Davidson raised shares of Medifast from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $16.50 to $17.00 in a report on Tuesday.

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.