Shares of Medifast (MED) are up strongly today. The stock got as high as $12.47 a share.
The company hasn’t said when it will report its earnings yet, but going on previous years, the earnings report will probably come out in early August. Wall Street currently expects 17 cents a share which is a huge increase over the 11 cents per share MED earned in last year’s second quarter.
Medifast is in the weight loss biz–an industry that thrives no matter what troubles plague the broader economy. The company’s approach to weight loss focuses on meal replacement shakes and protein bars (among other food/drink items), as well as disease management products for diabetics.
Since I first recommended Medifast in my Quantum Growth service just seven weeks ago, the stock is up by more than 25%.