What is DA Davidson’s Forecast for Medifast FY2024 Earnings?

Medifast, Inc. (NYSE:MED) – Equities researchers at DA Davidson upped their FY2024 earnings per share estimates for shares of Medifast in a research note issued to investors on Wednesday, November 6th. DA Davidson analyst L. Weiser now expects that the specialty retailer will post earnings of $1.83 per share for the year, up from their previous estimate of $1.29. DA Davidson has a “Neutral” rating and a $17.00 price objective 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 Stock Performance

NYSE MED opened at $19.16 on Friday. The firm has a market capitalization of $209.57 million, a P/E ratio of 29.03 and a beta of 1.13. The firm’s fifty day moving average price is $18.52 and its two-hundred day moving average price is $20.81. Medifast has a 1 year low of $17.07 and a 1 year high of $76.42. 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 (NYSE:MED) last issued its quarterly earnings results on Monday, November 4th. The specialty retailer reported $0.35 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 firm had revenue of $140.16 million during the quarter, compared to analysts’ expectations of $135.45 million. During the same period in the prior year, the firm posted $2.12 earnings per share.

Hedge Funds Weigh In On Medifast

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. increased its holdings in shares of Medifast by 203.0% during the 2nd quarter. Values First Advisors Inc. now owns 65,169 shares of the specialty retailer’s stock worth $1,422,000 after acquiring an additional 43,663 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Medifast in the second quarter valued at about $785,000. Burney Co. bought a new position in shares of Medifast in the first quarter valued at about $769,000. Quantbot Technologies LP boosted its holdings in shares of Medifast by 160.1% during the 1st quarter. Quantbot Technologies LP now owns 13,628 shares of the specialty retailer’s stock worth $522,000 after buying an additional 8,389 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of Medifast by 10.4% in the first quarter. Illinois Municipal Retirement Fund now owns 6,589 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 618 shares during the last quarter. 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.