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

Medifast (NYSE:MED) issued its earnings results on Monday. The specialty retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.36 by $0.56, Zacks reports. The company had revenue of $168.56 million for the quarter, compared to the consensus estimate of $160.44 million. Medifast had a net margin of 7.55% and a return on equity of 36.64%. During the same quarter in the previous year, the company earned $2.77 EPS. Medifast updated its Q3 2024 guidance to -0.700–0.050 EPS.

Medifast Trading Down 2.8 %

Shares of MED stock traded down $0.59 on Tuesday, hitting $20.27. 615,019 shares of the stock were exchanged, compared to its average volume of 468,735. The firm has a market capitalization of $221.69 million, a PE ratio of 3.31 and a beta of 1.15. The firm’s 50 day moving average is $20.68 and its two-hundred day moving average is $31.89. Medifast has a one year low of $17.86 and a one year high of $100.00.

Analyst Ratings Changes

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

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.