Beauty Health (NASDAQ:SKIN) Rating Reiterated by Canaccord Genuity Group

Beauty Health (NASDAQ:SKIN)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a report issued on Friday, Benzinga reports. They currently have a $10.00 price objective on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 61.81% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $23.00 price target on shares of Beauty Health in a report on Tuesday, August 8th. DA Davidson lowered their target price on Beauty Health from $35.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, August 10th. Stifel Nicolaus cut Beauty Health from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $10.00 in a report on Tuesday, June 20th. TD Cowen lowered their target price on Beauty Health from $15.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 10th. Finally, Piper Sandler lowered their target price on Beauty Health from $17.00 to $15.00 in a report on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beauty Health has a consensus rating of “Moderate Buy” and a consensus price target of $14.28.

Beauty Health Stock Performance

NASDAQ SKIN opened at $6.18 on Friday. The stock has a market cap of $821.26 million, a PE ratio of -44.14 and a beta of 1.10. The company has a current ratio of 9.28, a quick ratio of 7.98 and a debt-to-equity ratio of 4.55. Beauty Health has a twelve month low of $5.77 and a twelve month high of $14.00. The stock has a fifty day simple moving average of $7.75 and a 200-day simple moving average of $10.01.

Beauty Health (NASDAQ:SKIN) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $117.50 million for the quarter, compared to analysts’ expectations of $114.89 million. Beauty Health had a negative return on equity of 3.84% and a negative net margin of 3.83%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Equities analysts anticipate that Beauty Health will post 0.03 earnings per share for the current year.

Insider Transactions at Beauty Health

In other Beauty Health news, Director Doug K. Schillinger bought 33,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $6.11 per share, with a total value of $201,630.00. Following the transaction, the director now owns 64,450 shares of the company’s stock, valued at $393,789.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Beauty Health news, Director Doug K. Schillinger bought 33,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $6.11 per share, with a total value of $201,630.00. Following the transaction, the director now owns 64,450 shares of the company’s stock, valued at $393,789.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael P. Monahan bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $6.02 per share, for a total transaction of $30,100.00. Following the transaction, the chief financial officer now directly owns 358,107 shares in the company, valued at approximately $2,155,804.14. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 97,380 shares of company stock valued at $593,948. Corporate insiders own 41.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SKIN. American Century Companies Inc. acquired a new position in Beauty Health during the first quarter worth approximately $23,664,000. Camber Capital Management LP increased its position in Beauty Health by 250.0% during the second quarter. Camber Capital Management LP now owns 1,750,000 shares of the company’s stock worth $14,648,000 after buying an additional 1,250,000 shares during the period. Senvest Management LLC increased its position in Beauty Health by 35.8% during the fourth quarter. Senvest Management LLC now owns 4,576,111 shares of the company’s stock worth $41,643,000 after buying an additional 1,207,216 shares during the period. Norges Bank acquired a new position in Beauty Health during the fourth quarter worth approximately $7,730,000. Finally, Vanguard Group Inc. increased its position in Beauty Health by 8.6% during the third quarter. Vanguard Group Inc. now owns 10,514,288 shares of the company’s stock worth $123,964,000 after buying an additional 830,141 shares during the period. Institutional investors and hedge funds own 76.66% of the company’s stock.

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 HydraFacial Delivery System designed to elevate every part of the treatment and connects providers to the consumer's preferences to create a more personalized experience; HydraFacial Nation App, an app that allows consumers to learn about their skin health, discover treatment options, and track their treatments over time; and Keravive, a treatment for scalp health.