Medifast (MED) Posts Quarterly Results
Medifast (NYSE:MED) released its earnings data on Thursday. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05, Stock Ratings Network.com reports. The company had revenue of $80.88 million for the quarter, compared to the consensus estimate of $87.30 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. Medifast updated its Q3 guidance to $0.35-0.37 EPS and its FY14 guidance to $1.80-1.85 EPS.
Shares of Medifast (NYSE:MED) traded up 0.35% on Thursday, hitting $29.00. The stock had a trading volume of 215,605 shares. Medifast has a 1-year low of $23.02 and a 1-year high of $34.40. The stock has a 50-day moving average of $30.16 and a 200-day moving average of $29.46. The company has a market cap of $380.8 million and a price-to-earnings ratio of 16.51.
On a related note, analysts at Canaccord Genuity raised their price target on shares of Medifast from $31.00 to $32.00 in a research note on Thursday, June 12th. They now have a “hold” rating on the stock.
Medifast, Inc (NYSE:MED) is engaged in the production, distribution, and sale of weight management and disease management products and other consumable health and diet products.
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