MEDIFAST INC
MED · Miscellaneous Food Preparations & Kindred Products · 11.1M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$5M (gross $4M, SBC $8M)
Reference price $12.53 · est. market cap ~$139M — last insider purchase, 2026-05-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50Profitable franchise turned loss-making as GLP-1 drugs and a collapsing coach network drive a sharp top-line and earnings decline.
Strengths
- Fortress liquidity: current ratio 4.69 (79th pct) and gross margin 71% (80th pct)
- Debt-free, well-capitalized balance sheet to fund a strategic transformation
Risks
- Net margin -4.8%, ROA -7.5%, ROE -9.4% — a clear loss year (all sub-40th pct)
- Active earning coaches down ~40.6% YoY with GLP-1s structurally eroding demand
- Unproven 'metabolic health' pivot is the entire growth thesis
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -4.8%)
- Customer concentration~98% of revenue from one customer/distributor — 8% and 97
- Strong balance sheetStrong balance sheet — $166M cash & investments
- Insider buyingInsider buying — 3 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$241,675, last 6mo) Form 4 ↗
- Buying back stockNet buyback — share count -3%/yr over 4y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
71.3%
Operating margin
-3.7%
Net margin
-4.8%
Return on equity
-9.4%
Return on assets
-7.5%
Revenue growth (QoQ)
1.3%
Net-income growth
-993.0%
Current ratio
4.7×
Free cash flow
$1M
EBITDA
$29K
Tangible book value
$199M
Cash & investments
$166M
Stock comp / revenue
2.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-26 | Rose Jeffrey Matthew | Grant | 12K | — |
| 2026-05-26 | Rose Jeffrey Matthew | Grant | 6.7K | — |
| 2026-05-26 | Kiai Parsa | Grant | 12K | — |
| 2026-05-26 | Kiai Parsa | Grant | 7.6K | — |
| 2026-05-26 | Thomas Andrea B | Grant | 12K | — |
| 2026-05-26 | SCHLACKMAN SCOTT | Grant | 12K | — |
| 2026-05-26 | Geary Elizabeth A. | Grant | 12K | — |
| 2026-05-11 | SCHLACKMAN SCOTT | Buy | 2.5K | $12.53 |
| 2026-05-08 | SCHLACKMAN SCOTT | Buy | 2.5K | $12.65 |
| 2026-03-25 | Maloney James P. | Grant | 34K | — |
| 2026-03-25 | MacKenzie Jonathan Barrett | Tax withheld | 862 | $9.59 |
| 2026-03-25 | MacKenzie Jonathan Barrett | Grant | 11K | — |
| 2026-03-25 | Maloney James P. | Tax withheld | 3.2K | $9.59 |
| 2026-03-25 | Maloney James P. | Grant | 1.0K | — |
| 2026-03-25 | Chard Daniel R | Tax withheld | 20K | $9.59 |
| 2026-03-25 | Chard Daniel R | Grant | 37K | — |
| 2026-03-25 | Chard Daniel R | Grant | 4.8K | — |
| 2026-03-20 | Chard Daniel R | Buy | 18K | $10.11 |
| 2026-03-17 | Chard Daniel R | Tax withheld | 2.6K | $10.05 |
| 2026-03-17 | Maloney James P. | Tax withheld | 482 | $10.05 |
| 2026-03-17 | MacKenzie Jonathan Barrett | Tax withheld | 70 | $10.05 |
| 2026-03-13 | Maloney James P. | Tax withheld | 918 | $9.62 |
| 2026-03-13 | Chard Daniel R | Tax withheld | 7.1K | $9.62 |
| 2026-03-13 | MacKenzie Jonathan Barrett | Tax withheld | 198 | $9.62 |
| 2025-06-25 | SCHLACKMAN SCOTT | Grant | 11K | — |
| 2025-06-25 | Thomas Andrea B | Grant | 11K | — |
| 2025-06-25 | Hoer Michael A. | Grant | 11K | — |
| 2025-06-25 | Geary Elizabeth A. | Grant | 11K | — |
| 2025-06-25 | BROWN JEFFREY J | Grant | 11K | — |
| 2025-06-25 | BROWN JEFFREY J | Grant | 9.4K | $13.39 |
| 2025-06-13 | Chard Daniel R | Buy | 381 | $13.13 |
| 2025-03-25 | Maloney James P. | Grant | 24K | — |
| 2025-03-25 | MacKenzie Jonathan Barrett | Grant | 7.7K | — |
| 2025-03-25 | Chard Daniel R | Grant | 125K | — |
| 2025-03-17 | MacKenzie Jonathan Barrett | Tax withheld | 99 | $14.35 |
| 2025-03-17 | Maloney James P. | Tax withheld | 438 | $14.35 |
| 2025-03-17 | Chard Daniel R | Tax withheld | 1.9K | $14.35 |
| 2025-03-16 | Chard Daniel R | Tax withheld | 944 | $13.94 |
| 2025-03-16 | MacKenzie Jonathan Barrett | Tax withheld | 60 | $13.94 |
| 2025-03-16 | Maloney James P. | Tax withheld | 123 | $13.94 |
| 2025-03-13 | MacKenzie Jonathan Barrett | Tax withheld | 280 | $13.87 |
| 2025-03-13 | Maloney James P. | Tax withheld | 835 | $13.87 |
| 2025-03-13 | Chard Daniel R | Tax withheld | 5.0K | $13.87 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT02835092 ↗ | Weight Loss Using the Take Shape For Life Program or the Medifast Direct Program Versus a Self-Directed Diet Overweight, Obesity | NA | Completed | 2017-02-01 |
| NCT01021917 ↗ | SUCCESS Tracking Study Obesity | — | Terminated | 2014-07-01 |
| NCT02150837 ↗ | Retrospective Chart Review of the 5 & 2 & 2 and 4 & 2 & 1 Plans Obesity | — | Completed | 2014-05-01 |
| NCT01662830 ↗ | A Retrospective Chart Review of Three Medifast Weight Control Centers Obesity | — | Completed | 2012-03-01 |
| NCT01011491 ↗ | Comparison of Medifast's 5 & 1 Plan to a Food-based Plan of Equal Calories Obesity | NA | Completed | 2009-09-01 |
| NCT01029236 ↗ | Evaluation of Metabolism-Boosting Beverages Energy Expenditure, Appetite | NA | Completed | 2007-12-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-01 | Exec/director changeExhibits | filing ↗ |
| 2026-05-26 | Exec/director changeShareholder voteReg FDExhibits | filing ↗ |
| 2026-05-04 | ResultsExhibits | filing ↗ |
| 2026-03-20 | Material agreementExec/director changeReg FDExhibits | filing ↗ |
| 2026-02-17 | ResultsExhibits | filing ↗ |
| 2026-01-05 | Exec/director changeExhibits | filing ↗ |
| 2025-11-03 | ResultsExhibits | filing ↗ |
| 2025-08-04 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-01 | 2026-05-29 | 0001628280-26-039293 ↗ |
| 8-K | 2026-05-26 | 2026-05-19 | 0001628280-26-038109 ↗ |
| 10-Q | 2026-05-04 | 2026-03-31 | 0001628280-26-029898 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001628280-26-029812 ↗ |
| 8-K | 2026-03-20 | 2026-03-19 | 0001628280-26-019983 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001628280-26-008641 ↗ |
| 10-K | 2026-02-17 | 2025-12-31 | 0001628280-26-008656 ↗ |
| 8-K | 2026-01-05 | 2025-12-30 | 0001628280-26-000235 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001628280-25-048251 ↗ |
| 10-Q | 2025-11-03 | 2025-09-30 | 0001628280-25-048332 ↗ |
| 8-K | 2025-08-04 | 2025-08-04 | 0000910329-25-000015 ↗ |
| 10-Q | 2025-08-04 | 2025-06-30 | 0000910329-25-000016 ↗ |