Later on, D.A. Davidson reiterated a buy rating on HLF shares and issued a $78 price target as a result of adjusted 2013 EPS.
During the HLF conference call, the firm decided to announce a series of operational and financial changes to the company, calling it the ‘Build it Better’ program. The firm also disclosed that there have not been any updates to the SEC inquiry. During the after market, shares turned negative after the call ended. HLF reported 22% YoY EPS increase.
According to news sources, Ackman was not allowed to ask questions during the call. HLF CEO also said that he had ‘short discussions’ with activist investor Carl Icahn, but he had, ‘nothing concrete to report.’ Additionally, CEO Michael Johnson said that, “we continue to believe, obviously, that the stock represents a compelling investment opportunity.”
Later on in the week, HLF decided to recall some of their shake mix products. According to sources, the mixes contained some traces of dairy products when they were propertied to be dairy-free.
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