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

Medifast (NYSE:MED) released its quarterly 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. Medifast had a net margin of 7.55% and a return on equity of 36.64%. The business had revenue of $168.56 million for the quarter, compared to analysts’ expectations of $160.44 million. During the same period in the prior year, the firm earned $2.77 earnings per share. Medifast updated its Q3 2024 guidance to -0.700–0.050 EPS.

Medifast Stock Down 2.8 %

Shares of NYSE:MED traded down $0.59 during midday trading on Tuesday, reaching $20.27. 615,019 shares of the company were exchanged, compared to its average volume of 468,735. Medifast has a fifty-two week low of $17.86 and a fifty-two week high of $100.00. The stock has a fifty day simple moving average of $20.68 and a two-hundred day simple moving average of $31.89. The firm has a market cap of $221.69 million, a PE ratio of 3.27 and a beta of 1.15.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued an “underperform” rating and set a $17.50 price target on shares of Medifast in a research 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.