Medifast (NYSE:MED) Issues Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Medifast (NYSE:MED) announced its quarterly earnings data on Monday. The specialty retailer reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.50, Zacks reports. Medifast had a return on equity of 16.01% and a net margin of 1.09%. The firm had revenue of $140.16 million during the quarter, compared to analyst estimates of $135.45 million. During the same period last year, the company earned $2.12 earnings per share. Medifast updated its Q4 2024 guidance to 0.100-0.650 EPS.

Medifast Stock Up 8.7 %

NYSE:MED opened at $20.44 on Wednesday. Medifast has a 12-month low of $17.07 and a 12-month high of $76.42. The stock’s fifty day simple moving average is $18.46 and its 200-day simple moving average is $20.92. The firm has a market capitalization of $223.61 million, a P/E ratio of 30.97 and a beta of 1.13.

Analyst Upgrades and Downgrades

Separately, DA Davidson upgraded shares of Medifast from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $16.50 to $17.00 in a research report on Tuesday.

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.