Herbalife Ltd. (NYSE:HLF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Herbalife is a global network marketing company offering a range of science-based weight management products, nutritional supplements and personal care products intended to support weight loss and a healthy lifestyle. “

HLF has been the subject of several other reports. TheStreet downgraded Herbalife from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. SunTrust Banks Inc. restated a “neutral” rating and issued a $66.00 price objective on shares of Herbalife in a report on Friday, August 5th. Finally, Pivotal Research restated a “buy” rating and issued a $90.00 price objective on shares of Herbalife in a report on Sunday, July 17th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $68.72.

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Shares of Herbalife (NYSE:HLF) traded up 0.79% during mid-day trading on Wednesday, hitting $60.93. 716,608 shares of the stock were exchanged. The stock’s 50 day moving average is $63.17 and its 200-day moving average is $61.23. The stock has a market cap of $5.66 billion, a PE ratio of 20.88 and a beta of 1.72. Herbalife has a 12 month low of $42.26 and a 12 month high of $72.22.

Herbalife (NYSE:HLF) last issued its earnings results on Wednesday, August 3rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.08. The firm earned $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Herbalife had a net margin of 5.55% and a negative return on equity of 2,099.28%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 earnings per share. On average, analysts anticipate that Herbalife will post $1.31 EPS for the current year.

In other news, major shareholder Carl C. Icahn bought 2,304,683 shares of Herbalife stock in a transaction on Friday, August 26th. The stock was acquired at an average cost of $59.31 per share, for a total transaction of $136,690,748.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shin-Shing Bosco Chiu sold 2,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $68.00, for a total transaction of $136,000.00. The disclosure for this sale can be found here. 4.91% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of HLF. Norges Bank bought a new position in Herbalife during the fourth quarter valued at about $61,300,000. Quantitative Systematic Strategies LLC raised its stake in shares of Herbalife by 12.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 14,691 shares of the company’s stock worth $901,000 after buying an additional 1,647 shares in the last quarter. Aperio Group LLC raised its stake in shares of Herbalife by 1.7% in the first quarter. Aperio Group LLC now owns 11,283 shares of the company’s stock worth $695,000 after buying an additional 192 shares in the last quarter. Nisa Investment Advisors L.L.C. purchased a new stake in shares of Herbalife during the first quarter worth approximately $339,000. Finally, Virginia Retirement System purchased a new stake in shares of Herbalife during the first quarter worth approximately $259,000.

About Herbalife

Herbalife Ltd. is a global nutrition company. The Company develops and sells weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products, as well as personal care products. The Company’s segments include North America; Mexico; South & Central America; Europe, Middle East, and Africa (EMEA); Asia Pacific, and China.

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