Raymond James Financial Services Advisors Inc. Purchases New Holdings in The Beauty Health Company (NASDAQ:SKIN)

Raymond James Financial Services Advisors Inc. acquired a new position in shares of The Beauty Health Company (NASDAQ:SKIN) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,100 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors also recently made changes to their positions in the company. Raymond James & Associates bought a new stake in Beauty Health in the fourth quarter valued at about $31,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Beauty Health in the 3rd quarter valued at approximately $90,000. Kestra Private Wealth Services LLC raised its position in shares of Beauty Health by 40.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 15,887 shares of the company’s stock valued at $96,000 after acquiring an additional 4,600 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Beauty Health during the third quarter worth $97,000. Finally, Aigen Investment Management LP acquired a new position in Beauty Health in the third quarter worth $102,000. 93.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus reissued a “hold” rating and set a $4.00 target price (up from $3.00) on shares of Beauty Health in a report on Wednesday, March 13th. TD Cowen raised their target price on shares of Beauty Health from $2.50 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, March 13th. Piper Sandler reaffirmed an “underweight” rating and set a $3.00 target price (up from $2.00) on shares of Beauty Health in a report on Wednesday, March 13th. DA Davidson reiterated a “buy” rating and set a $5.00 price target on shares of Beauty Health in a research report on Friday, March 15th. Finally, Canaccord Genuity Group boosted their price objective on Beauty Health from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.50.

Beauty Health Stock Performance

Shares of NASDAQ SKIN opened at $3.24 on Friday. The Beauty Health Company has a 12-month low of $1.35 and a 12-month high of $11.73. The company has a market cap of $399.91 million, a PE ratio of -4.21 and a beta of 1.01. The stock has a 50 day simple moving average of $3.65 and a 200-day simple moving average of $3.41. The company has a current ratio of 6.07, a quick ratio of 5.28 and a debt-to-equity ratio of 12.43.

Beauty Health (NASDAQ:SKIN) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $96.80 million during the quarter, compared to analyst estimates of $87.22 million. Beauty Health had a negative return on equity of 18.85% and a negative net margin of 25.65%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, equities research analysts forecast that The Beauty Health Company will post -0.1 EPS for the current year.

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 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.