Keep an eye on Medifast (MED).
After a recent pullback to $222.75, the stock could push higher these last few weeks of 2021.
All as millions begin to make New Year’s resolutions.
Every year, Americans (about 90% of them, according to Johns Hopkins Medicine) make their New Year’s resolution to lose weight, diet, and exercise more, which usually ends in passing on the resolution for another year.
It’s a seasonal phenomenon that many of us are all too familiar with. As we head into the season between our Thanksgiving “stuffing,” holiday parties, and the December holidays, we tell ourselves next year will be different.
Medifast (MED) tends to push higher on those resolutions. Even better, “Medifast originally expected to hit $1 billion in sales by the end of 2021. Now, the company is projecting sales will total more than $1.5 billion for the full year,” as noted by the Baltimore Business Journal.
In addition, Medifast just reported:
- Revenue increased 52.3% to $413.4 million
- 44.9% growth in active earning OPTAVIA Coaches to a record level of 61,000
- Revenue per active earning OPTAVIA Coach increased 7.0% to new high of $6,773
- Net income increased 21.9% to $42.0 million
- Earnings per diluted share of $3.56, an increase of 22.3%