After a strong finish in 2018, Herbalife Nutrition Ltd. (NYSE: HLF) is expected to continue their trend of stock growth well into 2019. Herbalife Nutrition, which specializes in weight management and general wellness, has seen a massive surge in the company’s stock despite the industry’s decline of 0.1%.
A robust and varied product portfolio for Herbalife has helped the company see steady growth in volume points. The third quarter of 2018 was particularly optimistic with an increase in volume points by 15%, an amount that only follows the second quarter of 2018 for the most volume points achieved by the company.
The third quarter of 2018 also showed an increase in the number of hedge funds with Herbalife. A total of 38 hedge funds now have a bullish position in Herbalife Nutrition with a potential for more in 2019. Icahn Capital LP currently holds the largest stake within Herbalife with a reported $1.92 billion worth of stock at the end of September. Renaissance Technologies is following with $414.6 million worth of stock in the company.
Expansion outside of the United States has also helped to fuel Herbalife’s growth in the stock market. By introducing 58 products across 51 countries, as well as having a strong geographic presence, Herbalife’s products are accessible to 94 countries around the world. Herbalife’s product portfolio includes weight management, targeted nutrition, and fitness products.
Herbalife Nutrition is in a great position for growth in 2019. Based on growth from 2018, particularly from the third quarter, it’s very easy to see why hedge fund managers have invested so much money into the company’s stock. Herbalife’s position in the global market will also ensure its growth with their in-demand goods that are easily accessible. Due to these reasons, Herbalife is the company to look for and invest in for 2019.