Medifast (NYSE:MED) Issues FY22 Earnings Guidance

Medifast (NYSE:MEDGet Rating) issued an update on its FY22 earnings guidance on Monday morning. The company provided earnings per share guidance of $14.60-16.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $15.62. The company issued revenue guidance of $1.78-1.84 billion, compared to the consensus revenue estimate of $1.77 billion.

Medifast stock opened at $174.54 on Tuesday. The company has a 50 day moving average of $179.64 and a 200-day moving average of $195.76. Medifast has a twelve month low of $161.44 and a twelve month high of $336.99. The stock has a market capitalization of $2.01 billion, a PE ratio of 12.57 and a beta of 1.30.

Medifast (NYSE:MEDGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The specialty retailer reported $2.91 EPS for the quarter, beating the consensus estimate of $2.67 by $0.24. The business had revenue of $377.80 million for the quarter, compared to analysts’ expectations of $375.79 million. Medifast had a net margin of 10.75% and a return on equity of 85.40%. The firm’s revenue was up 42.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.36 EPS. On average, equities research analysts forecast that Medifast will post 15.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 9th. Stockholders of record on Tuesday, March 29th will be given a dividend of $1.64 per share. This is a boost from Medifast’s previous quarterly dividend of $1.42. This represents a $6.56 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Monday, March 28th. Medifast’s dividend payout ratio is currently 47.23%.

Several research firms have commented on MED. upgraded Medifast from a hold rating to a buy rating in a research note on Thursday, March 24th. DA Davidson cut their price objective on shares of Medifast from $349.00 to $341.00 and set a buy rating on the stock in a research report on Thursday, February 24th.

In other news, CEO Daniel R. Chard acquired 690 shares of the firm’s stock in a transaction dated Friday, February 4th. The stock was bought at an average price of $186.40 per share, with a total value of $128,616.00. Following the transaction, the chief executive officer now directly owns 103,839 shares in the company, valued at approximately $19,355,589.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea B. Thomas sold 1,150 shares of the business’s stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $174.31, for a total transaction of $200,456.50. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp bought a new position in shares of Medifast in the fourth quarter valued at about $227,000. Advisors Asset Management Inc. grew its stake 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 buying an additional 327 shares during the last quarter. Forum Financial Management LP acquired a new position in Medifast in the 4th quarter valued at about $453,000. LPL Financial LLC raised its holdings in 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 period. Finally, Toroso Investments LLC acquired a new stake in Medifast during the fourth quarter worth approximately $1,586,000. Institutional investors own 84.78% of the company’s stock.

About Medifast (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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