Medifast, Inc. (NYSE:MED – Get Rating) – Investment analysts at Zacks Research lowered their Q2 2023 EPS estimates for Medifast in a research note issued on Monday, May 15th. Zacks Research analyst A. Mohta now forecasts that the specialty retailer will earn $1.44 per share for the quarter, down from their previous forecast of $3.26. The consensus estimate for Medifast’s current full-year earnings is $7.95 per share. Zacks Research also issued estimates for Medifast’s Q3 2023 earnings at $1.95 EPS, Q4 2023 earnings at $2.71 EPS, FY2023 earnings at $9.78 EPS, Q1 2024 earnings at $2.74 EPS, Q2 2024 earnings at $2.06 EPS, Q3 2024 earnings at $2.86 EPS, Q4 2024 earnings at $2.98 EPS, FY2024 earnings at $10.63 EPS and Q1 2025 earnings at $3.04 EPS.
Medifast (NYSE:MED – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The specialty retailer reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $1.27. Medifast had a net margin of 9.27% and a return on equity of 106.70%. The firm had revenue of $349.00 million during the quarter, compared to analyst estimates of $319.50 million. During the same quarter in the prior year, the business posted $3.59 earnings per share. The company’s quarterly revenue was down 16.4% compared to the same quarter last year.
Medifast Trading Up 0.8 %
NYSE MED opened at $91.04 on Thursday. The firm has a market cap of $991.15 million, a price-to-earnings ratio of 7.13 and a beta of 1.24. The company has a 50 day moving average of $95.81 and a 200-day moving average of $108.61. Medifast has a 1-year low of $80.52 and a 1-year high of $192.44.
Hedge Funds Weigh In On Medifast
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its position in shares of Medifast by 63.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,429 shares of the specialty retailer’s stock worth $742,000 after purchasing an additional 2,500 shares in the last quarter. Affinity Investment Advisors LLC boosted its position in shares of Medifast by 8.9% during the fourth quarter. Affinity Investment Advisors LLC now owns 4,914 shares of the specialty retailer’s stock worth $567,000 after purchasing an additional 402 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of Medifast during the fourth quarter worth $813,000. AlphaCrest Capital Management LLC bought a new position in shares of Medifast during the third quarter worth $930,000. Finally, Trilogy Capital Inc. bought a new position in shares of Medifast during the fourth quarter worth $203,000. 86.03% of the stock is owned by institutional investors.
Insider Activity
In other Medifast news, Director Scott Schlackman sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $108.68, for a total value of $239,096.00. Following the transaction, the director now directly owns 7,280 shares of the company’s stock, valued at $791,190.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Medifast news, Director Jeffrey J. Brown acquired 754 shares of Medifast stock in a transaction on Friday, May 5th. The shares were purchased at an average cost of $89.74 per share, with a total value of $67,663.96. Following the completion of the purchase, the director now owns 37,695 shares in the company, valued at $3,382,749.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott Schlackman sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $108.68, for a total transaction of $239,096.00. Following the completion of the transaction, the director now directly owns 7,280 shares in the company, valued at $791,190.40. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
Medifast Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 9th. Stockholders of record on Tuesday, March 28th were paid a dividend of $1.65 per share. This is a boost from Medifast’s previous quarterly dividend of $1.64. This represents a $6.60 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend was Monday, March 27th. Medifast’s dividend payout ratio is 51.68%.
Medifast Company Profile
Medifast, Inc engages in the provision of healthy living products and programs. It offers the OPTAVIA brand, a lifestyle solution centered on developing new healthy habits through smaller, foundational changes called micro-habits. The firm’s product line includes bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups.
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