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Medifast, Inc. (NYSE: MED), established in 1980, is a renowned nutrition and weight loss company based in Maryland. With the endorsement of over 20,000 doctors, Medifast is a trusted name in the industry, known for its clinically proven products developed by physicians. The company's mission is to empower individuals to lead healthier lives by providing effective weight loss and management solutions.
Medifast offers a diverse range of support programs tailored to meet the unique needs and goals of its customers. These programs are designed to help individuals achieve their health and wellness objectives through personalized guidance and scientifically backed products. The company’s vision is to create a world where people can easily take control of their own well-being, believing that healthier individuals lead happier lives.
One of the core aspects of Medifast's approach is its commitment to producing results and helping people succeed on their wellness journeys. The company generates revenue primarily through e-commerce transactions, where it sells various health and nutritional products aimed at promoting weight loss, weight management, and overall healthy living.
Recent achievements of Medifast include expanding its product line to cater to a broader audience and forming strategic partnerships to enhance its distribution network. The company’s current projects focus on leveraging technology to provide more personalized and accessible health solutions to its customers. Financially, Medifast has shown resilience and growth, reflecting its strong market position and the effectiveness of its business strategies.
Medifast's dedication to changing lives is evident in the numerous success stories of individuals who have transformed their health and well-being through its programs. By providing the right opportunities and support, Medifast continues to make a significant impact on the lives of many, fostering a sense of joy and achievement among its customers.
Medifast (NYSE: MED) released survey findings indicating that support is essential for individuals pursuing health and wellness goals. Notably, 66% of U.S. adults reported that support has aided their journeys, while 81% believe having experienced support increases the likelihood of success in developing healthy habits. The survey also identified key support types: informational (75%), emotional (70%), and affirmational (70%). The OPTAVIA program emphasizes the importance of Coach support, aligning with these insights to foster client success.
Medifast, Inc. (NYSE: MED) announced a quarterly cash dividend of $1.42 per share, payable on November 8, 2021, to shareholders of record by September 21, 2021. The company aims to maintain a quarterly dividend program, yet future declarations depend on the Board of Directors' discretion. Medifast has established itself as a leader in the health and wellness sector, supporting clients through its OPTAVIA® platform. Factors influencing future dividend declarations include operational performance and market conditions.
Medifast, Inc (NYSE: MED) announced that its Chairman and CEO, Dan Chard, along with CFO Jim Maloney, will present at the Jefferies Virtual Fitness & Wellness Summit on September 15, 2021, at 11:00 a.m. ET. This presentation will be broadcast live via the Investor Relations section of Medifast's website and archived until September 29, 2021. Medifast is recognized for its OPTAVIA® program, which promotes healthy living through scientifically developed products and community support, impacting over 2 million lives.
On August 11, 2021, Medifast (NYSE: MED) launched the OPTAVIA app, enhancing its digital services for Clients and Coaches. This app, which has already been downloaded nearly 150,000 times, offers features like Lean & Green recipes, order history, and account management. The initiative is part of Medifast's strategy to improve digital infrastructure, enabling Coaches to better support Clients. The app's development reflects a commitment to continuous improvement based on user feedback, with plans for further enhancements and the upcoming OPTAVIA Connect app aimed at boosting Coach productivity.
Medifast (NYSE: MED) reported strong Q2 results for 2021, with revenue surging 79.2% to $394.2 million, driven by a 62.2% increase in active OPTAVIA Coaches to 59,200. Net income rose 114.1% to $47 million, translating to earnings per share (EPS) of $3.96. The company achieved a gross profit increase of 84.4%, reaching $293.7 million. Despite a 77.0% rise in SG&A expenses, operating income improved significantly. For FY 2021, Medifast anticipates revenue between $1.425 billion and $1.525 billion, with EPS guidance of $12.70 to $14.17.
Medifast (NYSE: MED) successfully hosted its annual OPTAVIA Convention from July 29 to August 1, 2021, in a hybrid format, attracting over 15,000 registrants. The event featured Coach-led educational sessions, community engagement activities, and celebrations for independent Coaches and their clients. A philanthropic fundraising initiative raised over $100,000 to provide nutritious meals for children in need, contributing to a total of 8 million meals funded to date. CEO Dan Chard emphasized the importance of connection and support amidst the challenges brought by the pandemic.
Medifast, Inc. (NYSE: MED) announced it will disclose its financial results for Q2 2021 on August 4, 2021, after market close. The conference call for discussing these results will start at 4:30 p.m. ET on the same day. Participants will include Chairman and CEO Dan Chard, and CFO Jim Maloney. The call will be live-streamed on the company's Investor Relations page and available for playback afterward. Medifast is recognized for its health and wellness brand OPTAVIA® and has been ranked among FORTUNE's 100 Fastest-Growing Companies in 2020.
Medifast has declared a $1.42 quarterly cash dividend for stockholders, payable on August 6, 2021, to those on record by June 22, 2021. The company aims to maintain a quarterly dividend program, subject to Board discretion based on various factors. Medifast, traded on NYSE under the symbol MED, is known for its health and wellness community, OPTAVIA, and has been recognized as one of the 100 Fastest-Growing Companies by Fortune in 2020. Investors should note potential fluctuations in dividend declarations based on corporate performance.
Medifast, Inc. (NYSE: MED) reported exceptional first-quarter results for 2021, showcasing a 90.9% increase in revenue to $340.7 million. Active earning OPTAVIA Coaches grew by 61.0% to 52,500, while revenue per coach jumped 21.0% to $6,454. Net income soared by 122.2% to $41.1 million, resulting in an EPS of $3.46. The company anticipates full-year revenue of $1.4 billion to $1.475 billion and EPS between $12.69 and $14.14. Despite solid performance, the gross profit margin declined slightly to 73.0%.
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