Medifast (NYSE:MED – Get Rating) is scheduled to release its earnings data after the market closes on Monday, May 2nd. Analysts expect Medifast to post earnings of $3.55 per share for the quarter. Medifast has set its FY 2022 guidance at $14.500-$16.000 EPS and its FY22 guidance at $14.50-$16.00 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.
Medifast (NYSE:MED – Get Rating) last announced its earnings results on Wednesday, February 23rd. The specialty retailer reported $2.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.67 by $0.24. Medifast had a return on equity of 85.40% and a net margin of 10.75%. The business had revenue of $377.80 million during the quarter, compared to the consensus estimate of $375.79 million. During the same period in the prior year, the company posted $2.36 EPS. The business’s quarterly revenue was up 42.6% on a year-over-year basis. On average, analysts expect Medifast to post $15 EPS for the current fiscal year and $19 EPS for the next fiscal year.
Shares of MED opened at $177.79 on Monday. Medifast has a one year low of $161.44 and a one year high of $336.99. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 12.80 and a beta of 1.41. The stock has a 50 day moving average price of $180.14 and a 200 day moving average price of $196.24.
In other news, CEO Daniel R. Chard bought 690 shares of the firm’s stock in a transaction that occurred on Friday, February 4th. The shares were purchased at an average price of $186.40 per share, with a total value of $128,616.00. Following the purchase, the chief executive officer now owns 103,839 shares in the company, valued at $19,355,589.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea B. Thomas sold 1,150 shares of the stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $174.31, for a total value of $200,456.50. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp acquired a new stake in Medifast in the 4th quarter valued at about $227,000. Advisors Asset Management Inc. raised its position in Medifast by 34.4% in the 4th quarter. Advisors Asset Management Inc. now owns 1,278 shares of the specialty retailer’s stock valued at $268,000 after purchasing an additional 327 shares in the last quarter. Forum Financial Management LP purchased a new position in shares of Medifast in the 4th quarter valued at about $453,000. LPL Financial LLC increased its holdings in shares of Medifast by 11.2% in the 4th quarter. LPL Financial LLC now owns 3,246 shares of the specialty retailer’s stock valued at $680,000 after acquiring an additional 328 shares during the last quarter. Finally, Toroso Investments LLC purchased a new position in shares of Medifast in the 4th quarter valued at about $1,586,000. 86.88% of the stock is currently owned by institutional investors.
Several analysts have issued reports on MED shares. DA Davidson dropped their target price on Medifast from $349.00 to $341.00 and set a “buy” rating for the company in a report on Thursday, February 24th. StockNews.com upgraded Medifast from a “hold” rating to a “buy” rating in a report on Thursday, March 24th.
Medifast Company Profile (Get Rating)
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.
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