Medifast (NYSE:MED) Posts 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 (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.50, Zacks reports. The firm had revenue of $140.16 million for the quarter, compared to analysts’ expectations of $135.45 million. Medifast had a return on equity of 16.01% and a net margin of 1.09%. During the same period in the previous year, the firm 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 during trading hours on Thursday, reaching $20.06. 77,578 shares of the company’s stock traded hands, compared to its average volume of 389,595. The firm has a market cap of $219.46 million, a PE ratio of 29.85 and a beta of 1.13. Medifast has a 52-week low of $17.07 and a 52-week high of $76.42. The firm has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $20.91.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised Medifast from an “underperform” rating to a “neutral” rating and lifted their price objective for the company 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.