Brokers Set Expectations for Medifast FY2024 Earnings

Medifast, Inc. (NYSE:MED) – Research analysts at Zacks Research issued their FY2024 earnings per share estimates for Medifast in a research report issued on Monday, November 25th. Zacks Research analyst A. Mohta expects that the specialty retailer will post earnings of $1.50 per share for the year. The consensus estimate for Medifast’s current full-year earnings is $1.51 per share. Zacks Research also issued estimates for Medifast’s Q4 2024 earnings at ($0.43) EPS, Q1 2025 earnings at ($0.10) EPS, FY2025 earnings at $0.92 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.53 EPS.

Medifast (NYSE:MED) last released its quarterly earnings data on Monday, November 4th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.50. The business had revenue of $140.16 million for the quarter, compared to the consensus estimate of $135.45 million. Medifast had a return on equity of 15.98% and a net margin of 1.09%. During the same quarter in the previous year, the company posted $2.12 EPS.

Separately, DA Davidson upgraded shares of Medifast from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $16.50 to $17.00 in a report on Tuesday, November 5th.

Medifast Price Performance

Medifast stock opened at $19.44 on Thursday. Medifast has a 52-week low of $17.07 and a 52-week high of $76.42. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $18.49 and its 200 day moving average is $19.83. The company has a market cap of $212.67 million, a price-to-earnings ratio of 29.45 and a beta of 1.13.

Hedge Funds Weigh In On Medifast

Large investors have recently modified their holdings of the stock. nVerses Capital LLC boosted its stake in Medifast by 54.5% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the specialty retailer’s stock worth $37,000 after buying an additional 600 shares during the period. Quarry LP lifted its holdings in shares of Medifast by 592.7% in the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 2,282 shares during the last quarter. CWM LLC boosted its stake in shares of Medifast by 370.8% during the 2nd quarter. CWM LLC now owns 4,684 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 3,689 shares during the period. Swedbank AB bought a new position in Medifast during the 1st quarter valued at about $115,000. Finally, Public Employees Retirement System of Ohio raised its position in Medifast by 1,161.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 8,992 shares during the period. Institutional investors own 95.51% 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.