Medifast (NYSE:MED) Issues Quarterly Earnings Results, Beats Estimates By $0.56 EPS

Medifast (NYSE:MED) released its quarterly earnings results on Monday. The specialty retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.56, Zacks reports. The firm had revenue of $168.56 million for the quarter, compared to analysts’ expectations of $160.44 million. Medifast had a return on equity of 25.77% and a net margin of 3.81%. During the same quarter last year, the firm posted $2.77 EPS. Medifast updated its Q3 2024 guidance to -0.700–0.050 EPS.

Medifast Stock Down 0.8 %

Shares of MED traded down $0.15 during trading hours on Thursday, hitting $19.76. The company had a trading volume of 444,705 shares, compared to its average volume of 468,544. Medifast has a 52-week low of $17.86 and a 52-week high of $96.01. The stock’s 50 day moving average price is $20.48 and its 200 day moving average price is $31.58. The firm has a market cap of $216.17 million, a P/E ratio of 3.19 and a beta of 1.15.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed an “underperform” rating and set a $17.50 price objective on shares of Medifast in a report on Monday, July 22nd.

About Medifast

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.