Wellington Management Group LLP Purchases 460,192 Shares of The Beauty Health Company (NASDAQ:SKIN)

Wellington Management Group LLP lifted its position in The Beauty Health Company (NASDAQ:SKIN) by 16.7% during the 1st quarter, HoldingsChannel reports. The firm owned 3,215,200 shares of the company’s stock after acquiring an additional 460,192 shares during the quarter. Wellington Management Group LLP’s holdings in Beauty Health were worth $40,608,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in Beauty Health during the first quarter worth approximately $83,000. State of Wyoming increased its stake in Beauty Health by 46.4% during the fourth quarter. State of Wyoming now owns 6,791 shares of the company’s stock worth $62,000 after acquiring an additional 2,152 shares during the last quarter. Royal Bank of Canada increased its stake in Beauty Health by 22.8% during the third quarter. Royal Bank of Canada now owns 7,700 shares of the company’s stock worth $91,000 after acquiring an additional 1,430 shares during the last quarter. Amundi increased its stake in Beauty Health by 24.1% during the fourth quarter. Amundi now owns 9,032 shares of the company’s stock worth $92,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Beauty Health during the second quarter worth approximately $132,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Benchmark reissued a “buy” rating and set a $23.00 price objective on shares of Beauty Health in a research note on Tuesday, August 8th. DA Davidson dropped their target price on Beauty Health from $35.00 to $16.50 and set a “buy” rating for the company in a research report on Thursday, August 10th. Piper Sandler dropped their target price on Beauty Health from $17.00 to $15.00 in a research report on Thursday, June 15th. Stifel Nicolaus lowered Beauty Health from a “buy” rating to a “hold” rating and dropped their target price for the company from $17.00 to $10.00 in a research report on Tuesday, June 20th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $10.00 target price on shares of Beauty Health in a research report on Friday, August 25th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.28.

Beauty Health Stock Down 2.4 %

Shares of NASDAQ SKIN opened at $5.76 on Friday. The company has a debt-to-equity ratio of 4.55, a quick ratio of 7.98 and a current ratio of 9.28. The firm has a market capitalization of $765.45 million, a price-to-earnings ratio of -41.00 and a beta of 1.17. The stock has a 50 day moving average price of $7.42 and a 200 day moving average price of $9.66. The Beauty Health Company has a 52-week low of $5.66 and a 52-week high of $14.00.

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

Insiders Place Their Bets

In related news, CFO Michael P. Monahan bought 5,000 shares of the stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $6.02 per share, for a total transaction of $30,100.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Doug K. Schillinger bought 33,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $6.11 per share, for a total transaction of $201,630.00. Following the completion of the acquisition, the director now directly owns 64,450 shares in the company, valued at $393,789.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael P. Monahan purchased 5,000 shares of Beauty Health 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 completion of the transaction, the chief financial officer now owns 358,107 shares of the company’s stock, valued at approximately $2,155,804.14. The disclosure for this purchase can be found here. Insiders purchased a total of 97,380 shares of company stock worth $593,948 over the last 90 days. Company insiders own 41.70% 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.