Medifast Stock Price, News & Analysis

Medifast, Inc. (NYSE: MED) announced the resignation of Michael MacDonald as Non-Executive Chairman of the Board. CEO Dan Chard has been appointed as Executive Chairman, effective immediately, while retaining his CEO position. MacDonald has been with Medifast since 1998 and played a significant role in the development of the OPTAVIA brand, launched in 2016. Chard expressed gratitude for MacDonald's leadership over the years. Under Chard's tenure, Medifast has seen substantial revenue growth through a coach-led approach to health and wellness.

Medifast, Inc. (NYSE: MED) announced a $1.13 quarterly cash dividend, payable on February 5, 2021, to stockholders of record by December 22, 2020. This marks the 20th consecutive quarterly dividend for the company, which has disbursed $139 million in cash dividends since December 2015. The Board plans to continue its dividend program quarterly, with future dividend declarations under its discretion. CEO Dan Chard emphasized strong growth amidst economic challenges, showcasing commitment to delivering shareholder value and sustainable growth strategies.

Medifast (NYSE: MED) reported a strong third quarter for 2020, with revenue rising 42.8% to $271.5 million compared to $190.1 million from the prior year. The net income surged 116.7% to $34.5 million, yielding earnings per diluted share of $2.91, up 120.5%. Active earning OPTAVIA Coaches grew 30.7% to a record 42,100. Despite increased SG&A expenses, the company's balance sheet remains strong with $169.9 million in cash and no debt. Medifast declared a quarterly cash dividend of $1.13 per share, demonstrating commitment to shareholder returns.

Medifast, Inc (NYSE: MED) will announce its third-quarter financial results for the period ending September 30, 2020, on November 2, 2020, following the market close. A conference call will be held at 4:30 p.m. ET that day, featuring CEO Dan Chard and CFO Jim Maloney. The call will be accessible via the company’s investor relations website and will be archived for later listening until November 16, 2020. Medifast, known for its OPTAVIA® brand, focuses on health and wellness with a community of independent coaches supporting clients in developing healthy habits.

Medifast (NYSE: MED) recently hosted its second annual Healthy Habits For All Week, aimed at improving health education in underserved communities. The event took place from September 21-27, 2020, with volunteers assembling 'mindfulness bags' in collaboration with the Living Classrooms Foundation. To date, Medifast has connected children with up to 6 million nutritious meals and contributed $100,000 to No Kid Hungry Campaign. The initiative reflects Medifast's commitment to promoting sustainable health habits, even amid pandemic challenges.

Medifast (NYSE: MED) has appointed Lauren Walker as Executive Vice President of Supply Chain Operations, effective Sept. 21, 2020. Walker, previously Chief Supply Chain Officer at Young Living Essential Oils, will oversee Medifast's global supply chain organization. CEO Dan Chard expressed confidence in her ability to drive operational excellence. Walker's extensive experience includes roles at Amway, Procter & Gamble, and Johnson & Johnson. This leadership change is expected to enhance Medifast's operational capabilities and support its growth strategy.

Medifast (NYSE: MED) has declared a quarterly cash dividend of $1.13 per share, slated for payment on November 6, 2020, to stockholders on record as of September 22, 2020. The company aims to maintain its quarterly dividend program, subject to Board discretion. Medifast continues to grow through its wellness community, OPTAVIA®, and aims for strategic expansion, particularly in the Asia-Pacific region. This dividend declaration reflects the company's ongoing commitment to shareholder returns.