March 03, 2017
Nu Skin Enterprises to Join S&P MidCap 400
With a market cap of $2.65 billion, Nu Skin Enterprises (NUS—NYSE) has landed a spot on the Dow Jones index of mid-sized companies.
Standard & Poor’s said the skincare and nutrition supplement stock has moved to the S&P MidCap 400, effective Thursday. Nu Skin replaces real estate investment firm Equity One Inc., following its merger with Regency Centers, which now trades on the large-cap S&P 500.
The widely followed S&P 400 consists of select U.S. stocks with a market capitalization of $1.4 billion to $5.9 billion, some of them household names such as New York Times Co. and Domino’s Pizza. All major industries are represented, to give investors an accurate gauge of the wider market. Nu Skin joins a handful of other direct selling companies currently listed on the index, including cosmetics maker Avon Products, which dropped off the S&P 500 in 2015, financial services firm Primerica and kitchenware staple Tupperware.
Utah-based Nu Skin recently reported annual revenue of $2.21 billion, down from $2.25 billion in 2015. Despite marginally lower sales, CEO Truman Hunt was upbeat in the company’s earnings report. “We made significant progress executing our 2016 priorities, including growing in China, successfully launching our ageLOC Me and ageLOC Youth products, and finalizing development of our upcoming LumiSpa product,” said Hunt. “We believe these steps have positioned us for growth in 2017 and beyond.”