Q3 2024 EPS Estimates for Medifast, Inc. (NYSE:MED) Reduced by Analyst

Medifast, Inc. (NYSE:MED) – Investment analysts at Zacks Research dropped their Q3 2024 EPS estimates for Medifast in a research note issued to investors on Monday, August 26th. Zacks Research analyst A. Mohta now expects that the specialty retailer will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.14. The consensus estimate for Medifast’s current full-year earnings is $1.15 per share. Zacks Research also issued estimates for Medifast’s Q4 2024 earnings at $0.16 EPS and Q3 2025 earnings at $0.39 EPS.

Medifast (NYSE:MED) last posted its quarterly earnings data on Monday, August 5th. The specialty retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.36 by $0.56. Medifast had a net margin of 3.81% and a return on equity of 25.77%. The business had revenue of $168.56 million during the quarter, compared to analyst estimates of $160.44 million. During the same quarter last year, the firm posted $2.77 earnings per share.

Separately, DA Davidson reiterated an “underperform” rating and issued a $17.50 price target on shares of Medifast in a research note on Monday, July 22nd.

Medifast Stock Down 1.7 %

Shares of Medifast stock opened at $18.83 on Wednesday. Medifast has a 52-week low of $17.86 and a 52-week high of $86.89. The company has a 50 day moving average of $19.67 and a 200 day moving average of $27.89. The company has a market capitalization of $206.00 million, a P/E ratio of 3.04 and a beta of 1.15.

Hedge Funds Weigh In On Medifast

A number of institutional investors have recently modified their holdings of MED. Quarry LP increased its stake in Medifast by 592.7% in the 2nd quarter. Quarry LP now owns 2,667 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 2,282 shares during the period. Millennium Management LLC increased its stake in Medifast by 37.8% in the 2nd quarter. Millennium Management LLC now owns 469,216 shares of the specialty retailer’s stock valued at $10,238,000 after buying an additional 128,719 shares during the period. AQR Capital Management LLC increased its stake in Medifast by 117.5% in the 2nd quarter. AQR Capital Management LLC now owns 389,951 shares of the specialty retailer’s stock valued at $8,509,000 after buying an additional 210,669 shares during the period. Squarepoint Ops LLC acquired a new position in Medifast in the 2nd quarter valued at $523,000. Finally, Bank of Montreal Can acquired a new position in Medifast in the 2nd quarter valued at $746,000. 95.51% of the stock is owned by institutional investors and hedge funds.

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.