Medifast: Rises on strong Q1 results

Medifast

05/05/2021 15:39

** Shares of nutrition and weight-loss company  MED.N  rise
11.3% to $250.60
    ** MED on Tuesday after market said Q1 rev rose about 90.9%
to $340.67 mln, beating Refinitiv IBES estimates of $278.89 mln 
    ** Q1 adjusted earnings of $3.46/shr topped estimates of
$2.73/shr
    ** Quarter helped by robust demand for MED's Optavia, a
weight-loss plan; co saw 61.0% growth in the number of active
coaches for the plan and revenue per active coach rose 21% in
qtr
    ** Co expects 2021 revenue between $1.4 bln and $1.475 bln;
analysts' est was $1.19 bln
    ** Co expects 2021 EPS in the range of $12.69 to $14.14,
above estimates of $11.11
    ** MED gained 28.4% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))