Medifast (NYSE:MED) Issues Q3 Earnings Guidance

Medifast (NYSE:MED) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.30-$1.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.57. The company issued revenue guidance of $190-$195 million, compared to the consensus revenue estimate of $190.51 million.Medifast also updated its FY 2019 guidance to $6.75-6.95 EPS.

Shares of NYSE:MED traded down $7.98 during trading on Friday, hitting $103.19. The company’s stock had a trading volume of 1,479,976 shares, compared to its average volume of 282,680. The firm’s 50 day simple moving average is $120.95. The stock has a market cap of $1.32 billion, a P/E ratio of 22.34 and a beta of 0.71. Medifast has a fifty-two week low of $102.68 and a fifty-two week high of $260.98.

Medifast (NYSE:MED) last posted its quarterly earnings results on Thursday, August 1st. The specialty retailer reported $1.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.04. The business had revenue of $187.10 million during the quarter, compared to the consensus estimate of $181.74 million. Medifast had a net margin of 11.22% and a return on equity of 62.63%. The company’s quarterly revenue was up 59.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Equities research analysts predict that Medifast will post 6.83 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 paid a $0.75 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.00 annualized dividend and a dividend yield of 2.91%. Medifast’s dividend payout ratio (DPR) is 64.94%.

MED has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Medifast in a research note on Thursday, July 25th. They issued a buy rating and a $130.00 price target for the company. Zacks Investment Research downgraded shares of Medifast from a buy rating to a hold rating in a research note on Wednesday, July 3rd. Finally, ValuEngine downgraded shares of Medifast from a hold rating to a sell rating in a research note on Tuesday, July 9th.

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

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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