Medifast, Inc. (MED) Updates Q4 Earnings Guidance
Medifast, Inc. (MED) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.23-0.25 for the period, compared to the Thomson Reuters consensus estimate of $0.19.
Shares of Medifast, Inc. (MED) traded up 1.71% during mid-day trading on Monday, hitting $26.82. Medifast, Inc. (MED) has a 52 week low of $12.97 and a 52 week high of $29.14. The company has a market cap of $373.3 million and a P/E ratio of 27.99.
Medifast last announced its earnings results on Monday, November 5th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.02. The company had revenue of $91.00 million for the quarter, compared to the consensus estimate of $89.73 million. During the same quarter in 2011, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Analysts expect that Medifast, Inc. (MED) will post $1.38 EPS for the current fiscal year.
On a related note, analysts at Wedbush raised their price target on shares of Medifast to $34.00 in a research note to investors on Monday, August 20th.
Medifast, Inc. (Medifast) 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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