Point72 Asset Management L.P. Lowers Stock Holdings in The Beauty Health Company (NASDAQ:SKIN)

Point72 Asset Management L.P. trimmed its position in shares of The Beauty Health Company (NASDAQ:SKIN) by 85.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 552,152 shares of the company’s stock after selling 3,235,148 shares during the quarter. Point72 Asset Management L.P.’s holdings in Beauty Health were worth $1,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SKIN. Sierra Summit Advisors LLC purchased a new position in Beauty Health during the 4th quarter valued at about $856,000. 180 Wealth Advisors LLC raised its position in Beauty Health by 14.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 81,285 shares of the company’s stock valued at $361,000 after purchasing an additional 10,566 shares in the last quarter. HighMark Wealth Management LLC acquired a new stake in Beauty Health in the 1st quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Beauty Health in the 1st quarter valued at about $200,000. Finally, Russell Investments Group Ltd. acquired a new stake in Beauty Health in the 1st quarter valued at about $279,000. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Brent L. Saunders purchased 40,450 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $1.08 per share, with a total value of $43,686.00. Following the completion of the transaction, the chairman now directly owns 5,921,769 shares in the company, valued at approximately $6,395,510.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 41.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group reduced their price target on Beauty Health from $2.00 to $1.25 and set a “hold” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus reduced their price target on Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. Finally, Piper Sandler reaffirmed an “underweight” rating and issued a $1.00 price target (down previously from $1.50) on shares of Beauty Health in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.46.

Beauty Health Price Performance

Shares of NASDAQ SKIN opened at $1.46 on Friday. The company has a debt-to-equity ratio of 7.96, a quick ratio of 5.47 and a current ratio of 6.49. The Beauty Health Company has a fifty-two week low of $0.91 and a fifty-two week high of $5.93. The firm has a market capitalization of $180.50 million, a PE ratio of -2.09 and a beta of 0.94. The stock’s 50-day simple moving average is $1.54 and its 200-day simple moving average is $2.35.

Beauty Health (NASDAQ:SKIN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $90.60 million for the quarter, compared to analyst estimates of $98.46 million. Beauty Health had a negative return on equity of 4.57% and a negative net margin of 22.86%. As a group, equities research analysts forecast that The Beauty Health Company will post -0.2 EPS for the current fiscal year.

About Beauty Health

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.