Medifast, Inc. Forecasted to Earn FY2024 Earnings of $0.75 Per Share (NYSE:MED)

Medifast, Inc. (NYSE:MED - Free Report) - Investment analysts at DA Davidson cut their FY2024 earnings per share estimates for Medifast in a research report issued on Tuesday, April 30th. DA Davidson analyst L. Weiser now expects that the specialty retailer will post earnings of $0.75 per share for the year, down from their previous estimate of $1.86. DA Davidson has a "Neutral" rating and a $25.00 price objective on the stock. The consensus estimate for Medifast's current full-year earnings is $1.91 per share. DA Davidson also issued estimates for Medifast's FY2025 earnings at $2.25 EPS.

Medifast (NYSE:MED - Get Free Report) last released its earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.12). The firm had revenue of $174.74 million for the quarter, compared to analyst estimates of $168.90 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. The business's revenue for the quarter was down 49.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.67 EPS.

Separately, TheStreet cut Medifast from a "c" rating to a "d+" rating in a research note on Wednesday, February 21st.

Medifast Trading Down 1.6 %

Shares of MED traded down $0.43 during trading hours on Thursday, reaching $25.93. The stock had a trading volume of 649,944 shares, compared to its average volume of 407,948. The firm has a 50-day simple moving average of $35.24 and a 200 day simple moving average of $53.74. Medifast has a 12 month low of $25.82 and a 12 month high of $109.52. The company has a market capitalization of $283.67 million, a price-to-earnings ratio of 4.18 and a beta of 1.19.

Insider Activity

In related 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 sale, the director now owns 7,785 shares in the company, valued at approximately $307,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.06% of the company's stock.

Hedge Funds Weigh In On Medifast

Several hedge funds have recently made changes to their positions in MED. CWM LLC boosted its holdings in Medifast by 223.8% in the third quarter. CWM LLC now owns 531 shares of the specialty retailer's stock worth $40,000 after acquiring an additional 367 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Medifast by 53.1% in 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 in the last quarter. Olympiad Research LP purchased a new stake in Medifast in the third quarter worth about $208,000. Triumph Capital Management purchased a new stake in shares of Medifast during the fourth quarter worth about $213,000. Finally, Vest Financial LLC purchased a new stake in shares of Medifast during the fourth quarter worth about $232,000. 95.51% of the stock is owned by hedge funds and other institutional investors.

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.