American Century Companies Inc. bought a new position in shares of The Beauty Health Company (NASDAQ:SKIN – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,877,080 shares of the company’s stock, valued at approximately $23,664,000. American Century Companies Inc. owned approximately 1.42% of Beauty Health as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of SKIN. JPMorgan Chase & Co. increased its stake in shares of Beauty Health by 16.7% during the first quarter. JPMorgan Chase & Co. now owns 109,834 shares of the company’s stock worth $1,854,000 after purchasing an additional 15,695 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Beauty Health by 121.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,102 shares of the company’s stock worth $441,000 after purchasing an additional 14,323 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Beauty Health during the first quarter worth about $199,000. Citigroup Inc. increased its stake in shares of Beauty Health by 15.0% during the first quarter. Citigroup Inc. now owns 145,292 shares of the company’s stock worth $2,452,000 after purchasing an additional 18,985 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Beauty Health by 57.0% during the first quarter. MetLife Investment Management LLC now owns 48,780 shares of the company’s stock worth $823,000 after purchasing an additional 17,710 shares in the last quarter.
Insider Transactions at Beauty Health
In related news, CFO Michael P. Monahan acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $6.02 per share, for a total transaction of $30,100.00. Following the acquisition, the chief financial officer now owns 358,107 shares in the company, valued at approximately $2,155,804.14. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Beauty Health news, CFO Michael P. Monahan bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $6.02 per share, with a total value of $30,100.00. Following the purchase, the chief financial officer now directly owns 358,107 shares in the company, valued at $2,155,804.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doug K. Schillinger bought 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average cost of $6.11 per share, for a total transaction of $201,630.00. Following the completion of the purchase, the director now owns 64,450 shares in the company, valued at $393,789.50. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 97,380 shares of company stock worth $593,948. 41.70% of the stock is currently owned by insiders.
Beauty Health Stock Performance
Beauty Health (NASDAQ:SKIN – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Beauty Health had a negative return on equity of 3.84% and a negative net margin of 3.83%. The company had revenue of $117.50 million during the quarter, compared to analyst estimates of $114.89 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts predict that The Beauty Health Company will post 0.03 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $23.00 price target on shares of Beauty Health in a research report on Tuesday, August 8th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of Beauty Health in a research report on Friday, August 25th. DA Davidson lowered their price target on shares of Beauty Health from $35.00 to $16.50 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Stifel Nicolaus lowered shares of Beauty Health from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $10.00 in a research report on Tuesday, June 20th. Finally, TD Cowen lowered their price target on shares of Beauty Health from $15.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.28.
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.
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