Medifast (NYSE:MED) Releases Quarterly Earnings Results, Beats Estimates By $0.74 EPS


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Medifast (NYSE:MED) released its quarterly earnings results on Tuesday. The specialty retailer reported $3.46 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.74, MarketWatch Earnings reports. The firm had revenue of $340.70 million during the quarter, compared to the consensus estimate of $279.12 million. Medifast had a net margin of 11.27% and a return on equity of 80.07%. The business’s revenue for the quarter was up 90.9% on a year-over-year basis. Medifast updated its FY 2021 guidance to 12.690-14.140 EPS and its FY21 guidance to $12.69-$14.14 EPS.

Shares of Medifast stock traded down $9.10 during mid-day trading on Tuesday, hitting $225.00. The stock had a trading volume of 150,636 shares, compared to its average volume of 120,496. The firm has a 50-day moving average of $229.57 and a two-hundred day moving average of $214.09. Medifast has a 12-month low of $74.39 and a 12-month high of $279.46. The firm has a market cap of $2.65 billion, a P/E ratio of 28.16 and a beta of 1.52.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 6th. Stockholders of record on Tuesday, March 30th will be paid a $1.42 dividend. This is a boost from Medifast’s previous quarterly dividend of $1.13. The ex-dividend date is Monday, March 29th. This represents a $5.68 annualized dividend and a dividend yield of 2.52%. Medifast’s dividend payout ratio is 95.30%.

A number of analysts have commented on the stock. B. Riley increased their price objective on shares of Medifast from $300.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 26th. DA Davidson increased their price objective on shares of Medifast from $239.00 to $302.00 and gave the company a “buy” rating in a report on Thursday, March 4th. Finally, Jefferies Financial Group upgraded shares of Medifast from a “hold” rating to a “buy” rating and increased their price objective for the company from $205.00 to $265.00 in a report on Monday, January 25th.

In other news, Director Jeffrey J. Brown purchased 133 shares of the company’s stock in a transaction dated Friday, February 5th. The stock was acquired at an average price of $240.99 per share, with a total value of $32,051.67. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.

About Medifast

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. It offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by Take Shape for Life, and Flavors of Home brands.

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Earnings History for Medifast (NYSE:MED)

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