Revenue Update on Medifast Inc(NYSE:MED)

Medifast Inc(NYSE:MED) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $71.14M. Analysts estimated a revenue of $72.01M. Earnings per share were $0.63. Analysts had estimated an EPS of $0.51.

Medifast Inc (MED) made into the market gainers list on Fridays trading session with the shares advancing 0.68% or 0.24 points. Due to strong positive momentum, the stock ended at $35.77, which is also near the day’s high of $35.87. The stock began the session at $35.66 and the volume stood at 73,576 shares. The 52-week high of the shares is $35.87 and the 52 week low is $26.14. The company has a current market capitalization of $424 M and it has 1,18,48,360 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Balanced Master Fund, L Visium (10% owner) sold 1,350,000 shares at $31.62 per share price.Also, On Apr 5, 2016, Margaret Sheetz (President & COO) sold 8,333 shares at $30.02 per share price.On Aug 7, 2015, Glenn W. Welling (director) purchased 1,199 shares at $30.00 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.

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