Form DEFA14A MEDIFAST INC
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April 30, 2024 9:08 AM EDT
Medifast (NYSE: MED), a wellness company known for its OPTAVIA brand, reported a significant decline in first-quarter revenue and earnings after the close on Monday, missing Wall Street estimates and projecting weaker-than-expected guidance for the second quarter. The company's shares plummeted 25% as investors reacted to the disappointing results and outlook.
For the first quarter ended March 31, 2024, Medifast's revenue fell to $174.7 million, a sharp 49.9% decrease from $349.0 million in the same quarter last year. This decline significantly missed the analyst consensus of $205.79 million. The company's adjusted earnings per share (EPS) for the quarter was $0.66,... More
April 30, 2024 5:00 AM EDT
DA Davidson analyst Linda Bolton Weiser lowered the price target on Medifast (NYSE: MED) to $25.00 (from $40.00) while maintaining a Neutral rating.
The analyst comments "NEUTRAL-rated MED reported a small 1Q24 sales beat but profit missed consensus by 11% due to higher SG&A... More
