Medifast Inc (MED) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.33. The company posted revenue of $72.30 million in the period, compared to analysts expectations of $69.31 million. The company’s revenue was down -1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Medifast Inc opened for trading at $31.62 and hit $32.08 on the upside on Monday, eventually ending the session at $32.01, with a gain of 1.52% or 0.48 points. The heightened volatility saw the trading volume jump to 1,25,901 shares. Company has a market cap of $379 M.
In a different news, on Apr 5, 2016, Margaret Sheetz (President & COO) sold 8,333 shares at $30.02 per share price. According to the SEC, on Aug 7, 2015, Glenn W. Welling (director) purchased 1,199 shares at $30.00 per share price. On Jun 15, 2015, Barry B Bondroff (director) sold 1,666 shares at $31.93 per share price, according to the Form-4 filing with the securities and exchange commission.
Medifast Inc. (Medifast) is engaged in the production distribution and sale of weight loss and weight management products and other consumable health and diet products. The Company’s operations are primarily conducted through its wholly owned subsidiaries Jason Pharmaceuticals Inc. Take Shape For Life Inc. Jason Enterprises Inc. Medifast Franchise Systems (MFSI) Inc. Jason Properties LLC Medifast Nutrition Inc. and Seven Crondall LLC. The Company offers a range of weight loss weight management products and healthy living products under the Medifast Thrive by Medifast Optimal Health by Take Shape For Life and Essential 1 brands and for select private label customers. Its product lines include weight loss and management meal replacement and vitamins. Its distribution channels include Medifast Direct Take Shape For Life Franchise Medifast Weight Control Centers and Medifast Wholesale.