Medifast (NYSE:MED) Releases Q3 2024 Earnings Guidance

Medifast (NYSE:MED) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -0.700–0.050 for the period, compared to the consensus estimate of -0.520. The company issued revenue guidance of $125.0 million-$145.0 million, compared to the consensus revenue estimate of $161.8 million.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reaffirmed an underperform rating and issued a $17.50 price target on shares of Medifast in a research report on Monday, July 22nd.

Medifast Stock Performance

Shares of NYSE:MED traded down $0.61 on Monday, hitting $20.86. 449,751 shares of the company were exchanged, compared to its average volume of 467,741. The company’s 50 day moving average price is $20.72 and its two-hundred day moving average price is $32.11. Medifast has a one year low of $17.86 and a one year high of $100.00. The firm has a market capitalization of $228.21 million, a price-to-earnings ratio of 3.40 and a beta of 1.15.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.