Medifast Inc (NYSE:MED) Expected to Post Earnings of $1.60 Per Share

Analysts expect that Medifast Inc (NYSE:MED) will announce earnings of $1.60 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Medifast’s earnings. The lowest EPS estimate is $1.58 and the highest is $1.62. Medifast reported earnings per share of $1.14 during the same quarter last year, which suggests a positive year over year growth rate of 40.4%. The company is expected to issue its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Medifast will report full year earnings of $6.81 per share for the current fiscal year, with EPS estimates ranging from $6.80 to $6.81. For the next fiscal year, analysts forecast that the company will report earnings of $8.53 per share, with EPS estimates ranging from $8.43 to $8.63. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Medifast.

Medifast (NYSE:MED) last released its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.04. The company had revenue of $187.10 million for the quarter, compared to analyst estimates of $181.74 million. Medifast had a return on equity of 57.73% and a net margin of 11.32%. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share.

A number of equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Medifast in a research note on Thursday, July 25th. They set a “buy” rating and a $130.00 price objective on the stock. Zacks Investment Research lowered Medifast from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, ValuEngine lowered Medifast from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $191.25.

In other news, Director Carl E. Sassano sold 850 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $143.94, for a total value of $122,349.00. Following the transaction, the director now owns 17,792 shares of the company’s stock, valued at approximately $2,560,980.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in MED. Oregon Public Employees Retirement Fund raised its holdings in shares of Medifast by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,635 shares of the specialty retailer’s stock valued at $591,000 after buying an additional 84 shares during the period. New York State Teachers Retirement System increased its holdings in Medifast by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 12,915 shares of the specialty retailer’s stock worth $1,647,000 after purchasing an additional 93 shares during the period. Mason Street Advisors LLC increased its holdings in Medifast by 2.6% during the 1st quarter. Mason Street Advisors LLC now owns 3,812 shares of the specialty retailer’s stock worth $486,000 after purchasing an additional 96 shares during the period. Macquarie Group Ltd. increased its holdings in Medifast by 41.8% during the 4th quarter. Macquarie Group Ltd. now owns 339 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 100 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Medifast by 5.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,900 shares of the specialty retailer’s stock worth $242,000 after purchasing an additional 100 shares during the period. 98.36% of the stock is currently owned by institutional investors and hedge funds.

NYSE MED traded down $8.33 on Friday, reaching $102.84. 88,595 shares of the company were exchanged, compared to its average volume of 256,805. The firm has a fifty day simple moving average of $121.59. The company has a market cap of $1.35 billion, a PE ratio of 22.45 and a beta of 0.75. Medifast has a fifty-two week low of $106.31 and a fifty-two week high of $260.98.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Friday, June 28th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, June 27th. Medifast’s dividend payout ratio (DPR) is presently 64.94%.

About Medifast

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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