Welcome to our dedicated page for Medifast news (Ticker: MED), a resource for investors and traders seeking the latest updates and insights on Medifast stock.
Medifast, Inc. reports developments as a metabolic health and wellness company built around the OPTAVIA science-backed, coach-guided lifestyle system. Its updates center on revenue trends, gross margin, active earning coaches, coach productivity and the company's shift toward metabolic health amid changes in weight-loss demand and GLP-1 medication adoption.
Recurring company news also covers OPTAVIA program evidence, nutrition and habit-creation offerings, HSA/FSA reimbursement availability on select insurance plans, independent coach community initiatives, media content tied to metabolic health, and governance matters such as board nominations and stockholder cooperation agreements.
Medifast (NYSE: MED) has declared a $1.65 quarterly cash dividend to its shareholders, payable on May 9, 2023, to those on record by March 28, 2023. This signifies the company's commitment to returning value to its investors. Medifast aims to maintain a program of quarterly dividends; however, future declarations are subject to the discretion of the Board, depending on various factors. As a leading player in the $7 billion U.S. weight management industry, Medifast's community-focused model has transformed over 2 million lives through OPTA VIA Coaches. For further details, visit MedifastInc.com.
Medifast (NYSE: MED) announced the appointment of Steven Zenker as its new Vice President of Investor Relations on March 2, 2023. Zenker brings over 30 years of experience in investor relations, financial planning, and investment management. Reporting to CFO Jim Maloney, he will enhance Medifast's investor relations strategy. Maloney expressed confidence in Zenker's leadership to strengthen connections with the financial community and communicate the company's unique business model. Zenker previously held various leadership roles, including at Sinclair Broadcast Group and Central Garden & Pet Company, and holds degrees from SUNY Albany and Fordham University.
Medifast (NYSE: MED) reported its fourth quarter 2022 results, revealing a revenue of $337.2 million, a decrease of 10.7% year-over-year. The company had 60,900 active OPTAVIA Coaches, with revenue per coach declining 12.4% to $5,538. Net income stood at $26.5 million, with an EPS of $2.41. For the full year, revenue increased 4.8% to $1.6 billion, but net income fell to $143.6 million. The company holds $87.7 million in cash and has no debt. Looking ahead, Q1 2023 revenue is projected between $300 million and $320 million.
Medifast (NYSE: MED) will announce its fourth quarter and full year financial results on February 21, 2023, after market close. The announcement will be followed by a conference call at 4:30 p.m. ET, featuring CEO Dan Chard and CFO Jim Maloney. Interested parties can listen via the company's website. A telephonic playback will be available from 6:30 p.m. ET on the same day until February 28, 2023. Medifast emphasizes its position as a leader in the $7 billion weight management industry, impacting over 2 million lives through its community of OPTAVIA Coaches.
On December 8, 2022, Medifast (NYSE: MED) announced a quarterly cash dividend of $1.64 per share to stockholders, payable on February 7, 2023, to those on record as of December 20, 2022. The company aims to maintain a consistent dividend program, although future declarations depend on the Board of Directors' discretion based on relevant evaluations. Medifast is a leader in the $7 billion weight management industry, impacting over 2 million lives through its health community, OPTAVIA.
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Medifast (NYSE: MED) reported Q3 2022 results, revealing a revenue decline of 5.6% to $390.4 million compared to Q3 2021. Active earning OPTAVIA Coaches increased by 8.5% to 66,200, but average revenue per coach fell by 12.9% to $5,897. Net income decreased to $36.2 million, or $3.27 per diluted share. The company announced a quarterly cash dividend of $1.64 per share and ended the quarter with $69.7 million in cash and no debt. Full-year revenue guidance was revised down to $1.51 billion to $1.59 billion due to inflation and acquisition challenges.
Medifast (NYSE: MED) announced that its OPTA VIA Program was recognized as the #1 Weight Loss Program in the U.S. by revenue for 2021, according to Euromonitor International. The program focuses on holistic health, impacting over two million lives and achieving a revenue increase of 455% over five years, from $501 million in 2018 to $1.526 billion in 2021. Medifast's independent coaches supported over one million clients in the past year. The company will announce its Q3 2022 financial results on November 3, 2022.
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