Canaccord Genuity analyst Scott Van Winkle weighed in on Nu Skin Enterprises (NYSE: NUS) following Q3 results and disappointing guidance, which has shares down 16% early. He said they are still waiting for a bottom and China and warned investors to stay away from the stock until one is found.

"We believe a stabilization and prospects for month-over-month growth in China are necessary before the shares can be
bought, despite the heavily discounted valuation," Van Winkle said. "A shortfall in the most recent product cycle should dampen growth through late 2015."

He added, "The Americas and Europe came in softer vs. our forecast, while the remaining geographies bested our sales estimates.Venezuelan currency devaluation masked 19% local currency growth in the Americas region. Notably, Mainland China sales declined 1.5% sequentially. While commentary is that China is showing signs of a stabilization amidst increases in promotional meetings, we assume another sequential decline in Q4."

The firm maintained a Hold rating on the stock.

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Shares of Nu Skin Enterprises closed at $50.42 yesterday.