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

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

Medifast Price Performance

NYSE MED traded up $0.36 on Thursday, reaching $20.06. 77,578 shares of the company’s stock traded hands, compared to its average volume of 389,595. Medifast has a 12 month low of $17.07 and a 12 month high of $76.42. The stock has a market cap of $219.46 million, a PE ratio of 29.85 and a beta of 1.13. The stock has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $20.91.

Wall Street Analyst Weigh In

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

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.