Q2 2024 Earnings Estimate for Medifast, Inc. Issued By DA Davidson (NYSE:MED)

Medifast, Inc. (NYSE:MEDFree Report) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for Medifast in a research note issued to investors on Thursday, June 6th. DA Davidson analyst L. Weiser forecasts that the specialty retailer will earn $0.40 per share for the quarter. DA Davidson has a “Underperform” rating and a $17.50 price target on the stock. The consensus estimate for Medifast’s current full-year earnings is $0.94 per share. DA Davidson also issued estimates for Medifast’s FY2025 earnings at $1.60 EPS.

Separately, TheStreet lowered shares of Medifast from a “c” rating to a “d+” rating in a research report on Wednesday, February 21st.

Get Our Latest Stock Analysis on Medifast

Medifast Price Performance

Medifast stock opened at $21.46 on Monday. The firm has a market cap of $234.77 million, a price-to-earnings ratio of 3.46 and a beta of 1.16. Medifast has a fifty-two week low of $19.90 and a fifty-two week high of $109.52. The firm has a fifty day moving average price of $28.34 and a two-hundred day moving average price of $45.35.

Medifast (NYSE:MEDGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). The business had revenue of $174.74 million during the quarter, compared to the consensus estimate of $168.90 million. Medifast had a return on equity of 36.64% and a net margin of 7.55%. The company’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.67 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MED. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Medifast by 53.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock worth $177,000 after buying an additional 911 shares during the last quarter. Swedbank AB bought a new stake in Medifast during the first quarter worth about $115,000. Triumph Capital Management bought a new stake in Medifast during the fourth quarter worth about $213,000. Vest Financial LLC bought a new stake in Medifast during the fourth quarter worth about $232,000. Finally, Aigen Investment Management LP grew its stake in shares of Medifast by 5.7% during the fourth quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock valued at $249,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

About Medifast

(Get Free Report)

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.

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Earnings History and Estimates for Medifast (NYSE:MED)

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