Analysts Set Expectations for Medifast FY2024 Earnings

Medifast, Inc. (NYSE:MED) – Equities research analysts at Zacks Research issued their FY2024 earnings estimates for shares of Medifast in a report released on Monday, November 25th. Zacks Research analyst A. Mohta anticipates that the specialty retailer will post earnings per share of $1.50 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.

Separately, DA Davidson raised Medifast from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $16.50 to $17.00 in a research note on Tuesday, November 5th.

Medifast Price Performance

MED stock opened at $19.44 on Thursday. The company has a market capitalization of $212.67 million, a P/E ratio of 29.45 and a beta of 1.13. Medifast has a 52-week low of $17.07 and a 52-week high of $76.42. The company has a fifty day moving average price of $18.50 and a 200-day moving average price of $19.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.55 and a current ratio of 3.11.

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

Institutional Trading of Medifast

A number of institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Medifast by 1,161.8% during the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock valued at $187,000 after purchasing an additional 8,992 shares during the period. XTX Topco Ltd purchased a new position in Medifast in the third quarter valued at approximately $348,000. Quarry LP raised its stake in shares of Medifast by 148.6% in the third quarter. Quarry LP now owns 6,629 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 3,962 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Medifast by 14.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 169,409 shares of the specialty retailer’s stock valued at $3,242,000 after purchasing an additional 20,832 shares during the last quarter. Finally, Centiva Capital LP raised its position in shares of Medifast by 6.3% in the third quarter. Centiva Capital LP now owns 15,238 shares of the specialty retailer’s stock valued at $292,000 after purchasing an additional 898 shares during the period. Institutional investors own 95.51% of the company’s stock.

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.