The Beauty Health Company (NASDAQ:SKIN) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of The Beauty Health Company (NASDAQ:SKIN) by 349,616.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,699 shares of the company’s stock after purchasing an additional 370,593 shares during the quarter. Federated Hermes Inc. owned 0.30% of Beauty Health worth $712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP lifted its stake in shares of Beauty Health by 88.7% in the fourth quarter. Aigen Investment Management LP now owns 31,865 shares of the company’s stock worth $99,000 after acquiring an additional 14,974 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Beauty Health in the fourth quarter worth about $856,000. 180 Wealth Advisors LLC lifted its stake in shares of Beauty Health by 14.9% in the first quarter. 180 Wealth Advisors LLC now owns 81,285 shares of the company’s stock worth $361,000 after acquiring an additional 10,566 shares in the last quarter. HighMark Wealth Management LLC acquired a new position in shares of Beauty Health in the first quarter worth about $31,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Beauty Health in the first quarter worth about $200,000. Institutional investors and hedge funds own 93.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SKIN. Canaccord Genuity Group cut their price target on Beauty Health from $2.00 to $1.25 and set a “hold” rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus cut their price target on Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. Finally, Piper Sandler reiterated an “underweight” rating and issued a $1.00 price target (down previously from $1.50) on shares of Beauty Health in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Beauty Health has a consensus rating of “Hold” and a consensus target price of $2.46.

Insider Activity

In related news, Chairman Brent L. Saunders bought 40,450 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $1.08 per share, with a total value of $43,686.00. Following the completion of the acquisition, the chairman now owns 5,921,769 shares of the company’s stock, valued at $6,395,510.52. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 41.00% of the company’s stock.

Beauty Health Stock Down 5.9 %

Shares of Beauty Health stock opened at $1.44 on Monday. The company has a quick ratio of 5.47, a current ratio of 6.49 and a debt-to-equity ratio of 7.96. The firm has a market cap of $178.03 million, a P/E ratio of -2.06 and a beta of 0.95. The Beauty Health Company has a fifty-two week low of $0.91 and a fifty-two week high of $6.25. The business has a 50-day moving average price of $1.62 and a 200 day moving average price of $2.48.

Beauty Health (NASDAQ:SKIN) last posted its 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 company had revenue of $90.60 million for the quarter, compared to the consensus estimate of $98.46 million. Beauty Health had a negative net margin of 22.86% and a negative return on equity of 4.57%. On average, sell-side analysts forecast that The Beauty Health Company will post -0.2 earnings per share for the current fiscal year.

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.