Brokerages Set The Beauty Health Company (NASDAQ:SKIN) Price Target at $2.46

Shares of The Beauty Health Company (NASDAQ:SKIN) have earned an average recommendation of “Reduce” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $2.46.

A number of analysts have commented on SKIN shares. Piper Sandler restated 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. Stifel Nicolaus decreased their price target on Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Finally, Canaccord Genuity Group lowered their price target on Beauty Health from $2.00 to $1.25 and set a “hold” rating on the stock in a report on Monday, August 12th.

Insider Activity at Beauty Health

In related news, Chairman Brent L. Saunders bought 40,450 shares of Beauty Health stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $1.08 per share, with a total value of $43,686.00. Following the completion of the transaction, the chairman now owns 5,921,769 shares in the company, valued at $6,395,510.52. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 41.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beauty Health

Several institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of Beauty Health by 349,616.0% in the 2nd quarter. Federated Hermes Inc. now owns 370,699 shares of the company’s stock valued at $712,000 after purchasing an additional 370,593 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Beauty Health during the first quarter worth $200,000. Russell Investments Group Ltd. purchased a new position in Beauty Health during the 1st quarter worth $279,000. Caprock Group LLC purchased a new stake in Beauty Health in the second quarter valued at about $38,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Beauty Health during the first quarter worth about $4,297,000. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Beauty Health Stock Performance

SKIN stock opened at $1.63 on Friday. The company has a debt-to-equity ratio of 7.96, a current ratio of 6.49 and a quick ratio of 5.47. Beauty Health has a 1 year low of $0.91 and a 1 year high of $5.33. The company has a market cap of $201.52 million, a P/E ratio of -2.33 and a beta of 0.94. The stock’s fifty day moving average price is $1.51 and its 200-day moving average price is $2.16.

Beauty Health (NASDAQ:SKIN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). Beauty Health had a negative return on equity of 4.57% and a negative net margin of 22.86%. The business had revenue of $90.60 million during the quarter, compared to analysts’ expectations of $98.46 million. On average, equities analysts forecast that Beauty Health will post -0.2 earnings per share for the current 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.