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

Medifast, Inc. (NYSE:MED) – Investment analysts at DA Davidson lowered their FY2024 EPS estimates for shares of Medifast in a research note issued on Tuesday, April 30th. DA Davidson analyst L. Weiser now expects that the specialty retailer will earn $0.75 per share for the year, down from their previous forecast of $1.86. DA Davidson currently has a “Neutral” rating and a $25.00 target price 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.

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

Medifast Price Performance

Shares of Medifast stock opened at $26.69 on Thursday. The business has a 50-day moving average of $35.24 and a 200 day moving average of $53.74. Medifast has a 12 month low of $25.36 and a 12 month high of $109.52. The stock has a market capitalization of $291.99 million, a price-to-earnings ratio of 4.30 and a beta of 1.19.

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

Hedge Funds Weigh In On Medifast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in Medifast by 2.5% in the fourth quarter. SG Americas Securities LLC now owns 7,266 shares of the specialty retailer’s stock valued at $488,000 after buying an additional 174 shares during the last quarter. Aigen Investment Management LP raised its position in Medifast by 5.7% in 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 in the last quarter. Swiss National Bank lifted its stake in shares of Medifast by 1.3% in the third quarter. Swiss National Bank now owns 23,900 shares of the specialty retailer’s stock valued at $1,789,000 after purchasing an additional 300 shares during the period. CWM LLC lifted its position in shares of Medifast by 223.8% during the 3rd quarter. CWM LLC now owns 531 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 367 shares during the period. Finally, Bridge City Capital LLC raised 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 purchasing an additional 429 shares during the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medifast

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