Medifast (MED) to Release Quarterly Earnings on Monday

Medifast (NYSE:MED) is scheduled to be releasing its earnings data after the market closes on Monday, April 29th. Analysts expect Medifast to post earnings of $0.58 per share for the quarter. Medifast has set its Q1 guidance at $0.25-0.95 EPS and its Q1 2024 guidance at 0.250-0.950 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Medifast (NYSE:MED) last announced its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. The business had revenue of $191.02 million for the quarter, compared to analyst estimates of $184.17 million. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The company’s revenue was down 43.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 EPS. On average, analysts expect Medifast to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Medifast Price Performance

Shares of MED stock opened at $32.44 on Monday. The firm has a market cap of $353.60 million, a P/E ratio of 3.56 and a beta of 1.14. Medifast has a 1-year low of $30.95 and a 1-year high of $109.52. The firm’s 50-day simple moving average is $38.45 and its 200-day simple moving average is $56.10.

Insider Buying and Selling

In related news, Director Scott Schlackman sold 4,053 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $39.44, for a total transaction of $159,850.32. Following the completion of the sale, the director now owns 7,785 shares of the company’s stock, valued at approximately $307,040.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.06% of the company’s stock.

Institutional Trading of Medifast

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Medifast by 71.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 37,624 shares of the specialty retailer’s stock valued at $2,529,000 after acquiring an additional 15,713 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Medifast by 32.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,356 shares of the specialty retailer’s stock valued at $764,000 after acquiring an additional 2,782 shares in the last quarter. Barclays PLC grew its position in Medifast by 219.5% in the fourth quarter. Barclays PLC now owns 20,452 shares of the specialty retailer’s stock valued at $1,376,000 after acquiring an additional 14,050 shares in the last quarter. Vanguard Group Inc. grew its position in Medifast by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 1,686,957 shares of the specialty retailer’s stock valued at $113,397,000 after acquiring an additional 113,734 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in Medifast by 68.0% in the fourth quarter. Public Sector Pension Investment Board now owns 22,607 shares of the specialty retailer’s stock valued at $1,520,000 after acquiring an additional 9,148 shares in the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MED. DA Davidson cut their price objective on shares of Medifast from $67.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. TheStreet lowered shares of Medifast from a “c” rating to a “d+” rating in a report on Wednesday, February 21st.

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.