FY2024 EPS Estimates for Medifast, Inc. (NYSE:MED) Lowered by Analyst

Medifast, Inc. (NYSE:MED) – Research analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for shares of Medifast in a research note issued to investors on Tuesday, April 30th. DA Davidson analyst L. Weiser now expects that the specialty retailer will post earnings of $0.75 per share for the year, down from their prior forecast of $1.86. DA Davidson has a “Neutral” rating and a $25.00 price target on the stock. The consensus estimate for Medifast’s current full-year earnings is $1.35 per share. DA Davidson also issued estimates for Medifast’s FY2025 earnings at $2.25 EPS.

Medifast (NYSE:MED) last issued its earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). Medifast had a return on equity of 36.64% and a net margin of 7.55%. The firm had revenue of $174.74 million for the quarter, compared to analyst estimates of $168.90 million. During the same period in the previous year, the company earned $3.67 earnings per share. Medifast’s revenue for the quarter was down 49.9% compared to the same quarter last year.

Separately, TheStreet cut shares of Medifast from a “c” rating to a “d+” rating in a research report on Wednesday, February 21st.

Medifast Price Performance

Shares of NYSE MED opened at $26.69 on Thursday. Medifast has a 1 year low of $25.36 and a 1 year high of $109.52. The stock has a market capitalization of $291.99 million, a P/E ratio of 4.30 and a beta of 1.19. The company has a 50-day moving average price of $35.24 and a 200-day moving average price of $53.74.

Institutional Investors Weigh In On Medifast

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in shares of Medifast by 2.5% in the 4th quarter. SG Americas Securities LLC now owns 7,266 shares of the specialty retailer’s stock worth $488,000 after buying an additional 174 shares during the last quarter. Aigen Investment Management LP lifted its holdings in Medifast by 5.7% during the fourth quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock worth $249,000 after acquiring an additional 199 shares during the period. Swiss National Bank lifted its holdings in Medifast by 1.3% during the third quarter. Swiss National Bank now owns 23,900 shares of the specialty retailer’s stock worth $1,789,000 after acquiring an additional 300 shares during the period. CWM LLC lifted its holdings in Medifast by 223.8% during the third quarter. CWM LLC now owns 531 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 367 shares during the period. Finally, Bridge City Capital LLC lifted its holdings in Medifast by 2.7% during the third quarter. Bridge City Capital LLC now owns 16,538 shares of the specialty retailer’s stock worth $1,238,000 after acquiring an additional 429 shares during the period. 95.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Medifast

In other news, Director Scott Schlackman sold 4,053 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $39.44, for a total value of $159,850.32. Following the completion of the sale, the director now owns 7,785 shares in the company, valued at $307,040.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.06% of the company’s stock.

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.