Medifast stock skyrockets 13 percent to $50 per share after earnings beat Wall Street estimates

Shares of Medifast Inc. surged more than 13 percent Wednesday and reached the $50 point after the company reported a 124 percent increase in its second-quarter profit.

Owings Mills-based Medifast reported its earnings after the market closed Tuesday. The weight-loss company’s net income in the second quarter was $7.6 million, or 63 cents per share, compared to $3.4 million, or 29 cents per share, in the year-ago period.

Analysts polled by the Thomson Financial Network projected earnings of 53 cents…



Author: Baltimore Checkbook

Best in consumer news and deals in Baltimore, MD.

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