Brokers Issue Forecasts for Medifast FY2024 Earnings

Medifast, Inc. (NYSE:MED - Free Report) - Investment analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for Medifast in a research report issued 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 upgraded Medifast from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $16.50 to $17.00 in a research report on Tuesday, November 5th.

Medifast Trading Up 6.1 %

NYSE MED traded up $1.12 during trading hours on Thursday, hitting $19.44. 263,106 shares of the company's stock were exchanged, compared to its average volume of 378,495. The business's 50 day moving average is $18.49 and its 200-day moving average is $19.83. Medifast has a 12-month low of $17.07 and a 12-month high of $76.42. The firm has a market capitalization of $212.67 million, a P/E ratio of 29.45 and a beta of 1.13. 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 - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The specialty retailer reported $0.35 EPS for the quarter, beating 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 last year, the company earned $2.12 earnings per share.

Hedge Funds Weigh In On Medifast

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in shares of Medifast by 2,000.1% in the 2nd quarter. Acadian Asset Management LLC now owns 338,228 shares of the specialty retailer's stock worth $7,376,000 after purchasing an additional 322,123 shares during the period. AQR Capital Management LLC raised its holdings in shares of Medifast by 117.5% in the 2nd quarter. AQR Capital Management LLC now owns 389,951 shares of the specialty retailer's stock worth $8,509,000 after purchasing an additional 210,669 shares during the period. Federated Hermes Inc. raised its holdings in shares of Medifast by 415.1% in the 2nd quarter. Federated Hermes Inc. now owns 215,090 shares of the specialty retailer's stock worth $4,693,000 after purchasing an additional 173,337 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Medifast by 20.3% in the 2nd quarter. Renaissance Technologies LLC now owns 958,610 shares of the specialty retailer's stock worth $20,917,000 after purchasing an additional 161,487 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Medifast by 37.8% in the 2nd quarter. Millennium Management LLC now owns 469,216 shares of the specialty retailer's stock worth $10,238,000 after purchasing an additional 128,719 shares during the period. 95.51% of the stock is currently owned by hedge funds and other institutional investors.

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.