Brokers Offer Predictions for Medifast FY2024 Earnings

Medifast, Inc. (NYSE:MED) – Equities research analysts at Zacks Research issued their FY2024 earnings per share estimates for Medifast in a research report issued to clients and investors on Monday, November 25th. Zacks Research analyst A. Mohta expects that the specialty retailer will post earnings of $1.50 per share for the year. The consensus estimate for Medifast’s current full-year earnings is $1.51 per share. Zacks Research also issued estimates for Medifast’s Q4 2024 earnings at ($0.43) EPS, Q1 2025 earnings at ($0.10) EPS, FY2025 earnings at $0.92 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.53 EPS.

Medifast (NYSE:MED) last issued its earnings results on Monday, November 4th. The specialty retailer reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.50. Medifast had a return on equity of 15.98% and a net margin of 1.09%. The business had revenue of $140.16 million during the quarter, compared to analyst estimates of $135.45 million. During the same period in the previous year, the company posted $2.12 EPS.

Separately, DA Davidson upgraded 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, November 5th.

Medifast Stock Up 6.1 %

NYSE:MED opened at $19.44 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 2.55. Medifast has a 1-year low of $17.07 and a 1-year high of $76.42. The company has a 50-day moving average of $18.49 and a 200 day moving average of $19.83. The firm has a market cap of $212.67 million, a PE ratio of 29.45 and a beta of 1.13.

Institutional Investors Weigh In On Medifast

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC raised its holdings in Medifast by 54.5% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 600 shares in the last quarter. Quarry LP grew its position in shares of Medifast by 592.7% in the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer’s stock worth $58,000 after buying an additional 2,282 shares during the last quarter. CWM LLC raised its stake in shares of Medifast by 370.8% during the 2nd quarter. CWM LLC now owns 4,684 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 3,689 shares in the last quarter. Swedbank AB purchased a new stake in Medifast during the first quarter valued at approximately $115,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Medifast by 1,161.8% in the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock valued at $187,000 after acquiring an additional 8,992 shares in the last quarter. 95.51% of the stock is currently owned by hedge funds and other institutional investors.

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.