Beauty Health (NASDAQ:SKIN) Given New $1.50 Price Target at Canaccord Genuity Group

Beauty Health (NASDAQ:SKIN) had its target price reduced by Canaccord Genuity Group from $1.75 to $1.50 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 14.94% from the company’s previous close.

Beauty Health Trading Down 8.1 %

NASDAQ:SKIN traded down $0.12 on Thursday, reaching $1.31. The company’s stock had a trading volume of 798,977 shares, compared to its average volume of 1,314,952. Beauty Health has a 1-year low of $0.91 and a 1-year high of $5.17. The business’s 50-day moving average price is $1.59 and its two-hundred day moving average price is $1.57. The firm has a market cap of $161.98 million, a PE ratio of -3.11 and a beta of 0.84. The company has a debt-to-equity ratio of 9.23, a quick ratio of 5.57 and a current ratio of 6.56.

Beauty Health (NASDAQ:SKIN) last issued its quarterly earnings data on Wednesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $83.50 million during the quarter, compared to analyst estimates of $78.02 million. Beauty Health had a negative return on equity of 44.83% and a negative net margin of 8.11%. During the same period in the previous year, the firm earned ($0.07) EPS. Equities research analysts anticipate that Beauty Health will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beauty Health

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Beauty Health by 0.3% in the 3rd quarter. FMR LLC now owns 18,603,037 shares of the company’s stock valued at $26,788,000 after purchasing an additional 58,826 shares during the period. Mirabella Financial Services LLP bought a new position in shares of Beauty Health during the fourth quarter worth about $14,292,000. Millennium Management LLC raised its position in Beauty Health by 30.6% in the 4th quarter. Millennium Management LLC now owns 3,118,970 shares of the company’s stock valued at $4,959,000 after buying an additional 730,647 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Beauty Health by 1.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,499,652 shares of the company’s stock valued at $3,599,000 after acquiring an additional 27,665 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Beauty Health by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,787,492 shares of the company’s stock worth $2,843,000 after acquiring an additional 30,825 shares during the last quarter. 93.26% of the stock is owned by institutional investors.

Beauty Health Company Profile

The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company's flagship product includes HydraFacial that enhance the skin to cleanse, extract, and hydrate the skin with proprietary solutions and serums. Its products also comprise Syndeo, a Delivery System designs to connects providers to the consumer's preferences to create a more personalized experience; consumables, such as single-use tips, solutions, and serums used to provide a hydrafacial treatment; SkinStylus SteriLock Microsystem, a microneedling device used for the treatment of enhancing appearance of surgical or traumatic hypertrophic scars on the abdomen and facial acne scarring in Fitzpatrick skin types I, II, and III; and Keravive, a treatment for scalp health.