USANA Health Sciences (NYSE: USNA) received an upgrade from Zacks Research, shifting its rating from “strong sell” to “hold.” This change, noted in a research note issued on Monday, suggests a more optimistic outlook for the company’s stock performance. In contrast, Weiss Ratings reaffirmed a “sell (d)” rating for USANA on December 29, 2023.
Currently, two analysts have assigned a Hold rating to USANA shares, while one has given it a Sell rating. According to data from MarketBeat.com, the consensus rating for the company is “Reduce,” with an average target price set at $36.00.
Recent Earnings Performance
On February 17, 2024, USANA Health Sciences reported its latest earnings results, revealing earnings per share of $0.60 for the quarter. This figure exceeded analysts’ expectations, which had forecasted earnings of $0.41, surpassing estimates by $0.19. The company recorded a net margin of 1.86% and a return on equity of 6.97%. Revenue for the quarter was reported at $226.20 million, slightly above the anticipated $225.96 million.
Analysts predict that USANA will achieve earnings per share of $2.45 for the current fiscal year, indicating a stable performance outlook.
Investor Activity and Institutional Holdings
Recent trading activity has seen significant involvement from institutional investors. Envestnet Portfolio Solutions Inc. acquired a new stake in USANA valued at approximately $274,000. Allianz Asset Management GmbH also purchased a new stake during the second quarter, valued at $638,000. Notably, Connor Clark & Lunn Investment Management Ltd. increased its position in USANA by 202.3%, now holding 97,537 shares valued at about $2.98 million after acquiring an additional 65,268 shares.
AlphaQuest LLC boosted its stake in USANA by 168.1% during the same quarter, owning 9,146 shares worth $279,000. Additionally, Exchange Traded Concepts LLC expanded its position by an impressive 497.0% in the third quarter, acquiring 47,204 shares valued at $1.3 million.
Overall, institutional investors and hedge funds collectively hold 54.25% of USANA’s stock, reflecting strong interest in the company’s future potential.
USANA Health Sciences, based in Utah, specializes in developing, manufacturing, and distributing nutritional supplements and personal care products through a network of independent distributors. Founded in 1992 by Dr. Myron Wentz, the company offers a diverse portfolio that includes vitamins, dietary supplements, weight management products, and skincare formulations.
The company is committed to maintaining pharmaceutical-grade standards for its products, supported by substantial investments in research and development and quality control. USANA primarily operates through a direct selling model, reaching markets across North America, Asia Pacific, Europe, and Latin America.
