DA Davidson Forecasts Medifast's FY2024 Earnings (NYSE:MED)

Medifast, Inc. (NYSE:MED - Free Report) - Equities research analysts at DA Davidson boosted their FY2024 earnings per share (EPS) estimates for Medifast in a research note issued to investors on Wednesday, November 6th. DA Davidson analyst L. Weiser now anticipates that the specialty retailer will earn $1.83 per share for the year, up from their previous forecast of $1.29. DA Davidson currently has a "Neutral" rating and a $17.00 target price on the stock. The consensus estimate for Medifast's current full-year earnings is $1.24 per share. DA Davidson also issued estimates for Medifast's Q4 2024 earnings at ($0.10) EPS and FY2025 earnings at $0.19 EPS.

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

Medifast Trading Down 3.5 %

NYSE:MED traded down $0.69 on Friday, reaching $19.19. 185,692 shares of the stock traded hands, compared to its average volume of 389,300. The firm has a market capitalization of $209.90 million, a price-to-earnings ratio of 29.08 and a beta of 1.13. The company's 50 day moving average is $18.52 and its 200-day moving average is $20.81. The company has a current ratio of 3.11, a quick ratio of 2.46 and a debt-to-equity ratio of 0.06. Medifast has a 1-year low of $17.07 and a 1-year high of $76.42.

Institutional Trading of Medifast

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