USANA Health Sciences (NYSE:USNA) Price Target Cut to $48.00

On August 19, 2021, USANA Health Sciences (NYSE: USNA) announced that its price target has been cut from $55.00 to $48.00 by JMP Securities. The company is a leading provider of high-quality nutritional supplements and skincare products.

The price target cut was based on the company's recent financial performance, which included lower-than-expected revenue growth in its second quarter of 2021. USANA reported net sales of $347.5 million for the period ended June 30, 2021, which represented a 6% increase from the same period last year. However, analysts had expected revenue growth of around 8%.

The price target cut also reflects concerns about the company's competitive landscape, as well as potential regulatory risks related to its nutritional supplement business. USANA faces competition from other leading supplement brands, such as Nature Made and Garden of Life, and there are ongoing discussions about proposed regulations that could impact the industry.

Despite these challenges, USANA remains a strong company with a loyal customer base and a solid financial position. The company has a strong balance sheet, with cash and cash equivalents of $150 million as of June 30, 2021, and no long-term debt. Additionally, USANA has a history of consistent revenue growth and profitability, with net income of $47.6 million in the second quarter of 2021.

Overall, while the price target cut reflects some concerns about USANA's recent financial performance and competitive landscape, the company remains well-positioned for long-term success.