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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, Inc. (NYSE: MED) announced a quarterly cash dividend of $1.42 per share, payable on May 6, 2021 to stockholders of record by March 30, 2021. The company aims to maintain quarterly dividend payments, subject to the Board's discretion based on relevant factors. Medifast operates the OPTAVIA® community, promoting health and wellness through scientifically developed products and coaching. Ranked among FORTUNE's fastest-growing companies, Medifast emphasizes its commitment to shareholder returns.
Medifast, Inc. (NYSE: MED) reported impressive financial results for Q4 and the full year 2020. Q4 revenue surged by 55.3% to $264.9 million, with net income increasing by 40.8% to $28.0 million. The full year revenue reached $934.8 million, up 31.0%, with a net income of $102.9 million. The company also recorded a 42.2% rise in EPS to $2.36 for Q4. Active earning OPTAVIA Coaches grew 39.0% to 44,200, contributing to strong operational momentum despite challenges from the COVID-19 pandemic.
Medifast, Inc. (NYSE: MED) will release its financial results for Q4 and the full year ending December 31, 2020, on February 25, 2021, after market close. A conference call featuring CEO Dan Chard and CFO Jim Maloney will be held at 4:30 p.m. ET on the same day to discuss these results. Investors can listen via the Medifast website or dial in for a telephonic playback available until March 4, 2021. Medifast is recognized as one of the fastest-growing health and wellness companies globally and is listed among FORTUNE's 100 Fastest-Growing Companies in 2020.
Medifast, Inc. (NYSE: MED) announced that CEO Dan Chard and CFO Jim Maloney will present at the 23rd Annual ICR Conference on January 11, 2021. The virtual presentation is scheduled to start at 11:30 a.m. ET and will be streamed live on the company's Investor Relations website, with an archive available until January 25, 2021. Medifast, recognized for its health and wellness community OPTAVIA®, combines decades of experience with a direct selling model to promote healthy habits through a comprehensive support system.
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.
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