Medifast (NYSE:MED) Updates Q2 Earnings Guidance

Medifast (NYSE:MED) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.05-0.40 for the period, compared to the consensus earnings per share estimate of $0.68. The company issued revenue guidance of $150-170 million, compared to the consensus revenue estimate of $178.50 million. Medifast also updated its Q2 2024 guidance to 0.050-0.400 EPS.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. DA Davidson lowered their price target on Medifast from $40.00 to $25.00 and set a neutral rating for the company in a report on Tuesday. TheStreet downgraded Medifast from a c rating to a d+ rating in a report on Wednesday, February 21st.

Medifast Stock Down 22.4 %

Medifast stock opened at $27.55 on Wednesday. Medifast has a 52 week low of $26.02 and a 52 week high of $109.52. The company has a market capitalization of $301.40 million, a price-to-earnings ratio of 4.44 and a beta of 1.14. The stock has a 50-day moving average price of $35.80 and a 200 day moving average price of $54.13.

Medifast (NYSE:MED) last released its earnings results on Monday, April 29th. The specialty retailer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). Medifast had a return on equity of 37.47% and a net margin of 7.55%. The firm had revenue of $174.74 million for the quarter, compared to analyst estimates of $168.90 million. During the same period last year, the firm earned $3.67 EPS. The company’s revenue for the quarter was down 49.9% compared to the same quarter last year. Research analysts anticipate that Medifast will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was 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 $307,040.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.06% of the company’s stock.

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.