Medifast (NYSE:MED) Releases Q3 2019 Earnings Guidance

Medifast (NYSE:MED) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.30-1.35 for the period, compared to the Thomson Reuters consensus estimate of $1.57. The company issued revenue guidance of $190-195 million, compared to the consensus revenue estimate of $191.99 million.Medifast also updated its FY 2019 guidance to $6.75-6.95 EPS.

NYSE MED traded down $0.48 during trading on Thursday, reaching $111.17. 508,100 shares of the company’s stock were exchanged, compared to its average volume of 259,253. The firm has a market cap of $1.34 billion, a PE ratio of 24.06 and a beta of 0.75. The stock has a 50 day simple moving average of $121.59. Medifast has a 1 year low of $106.31 and a 1 year high of $260.98.

Medifast (NYSE:MED) last announced its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.18. The company had revenue of $165.88 million during the quarter, compared to the consensus estimate of $153.48 million. Medifast had a return on equity of 57.73% and a net margin of 11.32%. Medifast’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. On average, equities research analysts predict that Medifast will post 6.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Thursday, June 27th. Medifast’s dividend payout ratio (DPR) is 64.94%.

MED has been the subject of a number of recent analyst reports. ValuEngine downgraded Medifast from a hold rating to a sell rating in a report on Tuesday, July 9th. Zacks Investment Research downgraded Medifast from a buy rating to a hold rating in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group initiated coverage on Medifast in a report on Thursday, July 25th. They set a buy rating and a $130.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $191.25.

In other news, Director Carl E. Sassano sold 850 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $143.94, for a total value of $122,349.00. Following the completion of the sale, the director now directly owns 17,792 shares of the company’s stock, valued at approximately $2,560,980.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by insiders.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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