Analysts expect Medifast, Inc. (NYSE:MED) to post $357.69 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Medifast’s earnings. The highest sales estimate is $359.20 million and the lowest is $356.18 million. Medifast posted sales of $220.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 62.6%. The business is scheduled to report its next quarterly earnings report on Wednesday, August 4th.
According to Zacks, analysts expect that Medifast will report full-year sales of $1.45 billion for the current financial year, with estimates ranging from $1.43 billion to $1.46 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.58 billion, with estimates ranging from $1.51 billion to $1.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Medifast.
Medifast (NYSE:MED) last posted its quarterly earnings results on Tuesday, May 4th. The specialty retailer reported $3.46 EPS for the quarter, beating the consensus estimate of $2.72 by $0.74. The firm had revenue of $340.70 million during the quarter, compared to analysts’ expectations of $279.12 million. Medifast had a return on equity of 85.97% and a net margin of 11.44%. The company’s revenue for the quarter was up 90.9% on a year-over-year basis.
In other news, Director Jeffrey J. Brown purchased 180 shares of the company’s stock in a transaction on Thursday, May 6th. The stock was acquired at an average cost of $225.04 per share, for a total transaction of $40,507.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Schlackman sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 19th. The stock was sold at an average price of $310.23, for a total transaction of $310,230.00. Following the completion of the transaction, the director now owns 5,231 shares of the company’s stock, valued at $1,622,813.13. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Medifast by 4.9% during the first quarter. BlackRock Inc. now owns 1,813,853 shares of the specialty retailer’s stock valued at $384,210,000 after purchasing an additional 85,315 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Medifast by 2.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,010,510 shares of the specialty retailer’s stock valued at $198,404,000 after acquiring an additional 21,000 shares during the period. Principal Financial Group Inc. increased its stake in Medifast by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 202,286 shares of the specialty retailer’s stock worth $42,848,000 after buying an additional 6,933 shares during the period. Geode Capital Management LLC increased its stake in Medifast by 9.0% in the 1st quarter. Geode Capital Management LLC now owns 188,509 shares of the specialty retailer’s stock worth $39,929,000 after buying an additional 15,628 shares during the period. Finally, Norges Bank purchased a new position in Medifast in the 4th quarter worth about $29,448,000. Hedge funds and other institutional investors own 81.51% of the company’s stock.
Shares of NYSE MED traded down $1.38 during mid-day trading on Tuesday, hitting $289.01. The company had a trading volume of 1,181 shares, compared to its average volume of 126,226. Medifast has a one year low of $99.59 and a one year high of $336.99. The company has a market cap of $3.40 billion, a P/E ratio of 27.42 and a beta of 1.44. The company has a 50-day moving average price of $270.83.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 6th. Stockholders of record on Tuesday, June 22nd will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Monday, June 21st. Medifast’s payout ratio is 62.14%.
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 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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