Beauty Health (NASDAQ:SKIN) Price Target Lowered to $1.25 at Canaccord Genuity Group

Beauty Health (NASDAQ:SKIN) had its target price decreased by Canaccord Genuity Group from $1.50 to $1.25 in a research note issued to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Beauty Health Stock Performance

Shares of Beauty Health stock opened at $1.06 on Monday. Beauty Health has a 12 month low of $0.78 and a 12 month high of $3.63. The company has a current ratio of 6.56, a quick ratio of 5.57 and a debt-to-equity ratio of 9.23. The business has a fifty day simple moving average of $1.17 and a two-hundred day simple moving average of $1.46. The firm has a market capitalization of $132.76 million, a P/E ratio of -2.52 and a beta of 0.88.

Beauty Health (NASDAQ:SKIN) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $83.50 million during the quarter, compared to analysts’ expectations of $78.02 million. Beauty Health had a negative return on equity of 44.83% and a negative net margin of 8.11%. During the same quarter in the previous year, the business earned ($0.07) earnings per share. On average, equities analysts forecast that Beauty Health will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beauty Health

Several large investors have recently bought and sold shares of SKIN. Mirabella Financial Services LLP bought a new stake in Beauty Health in the 4th quarter worth approximately $14,292,000. Millennium Management LLC boosted its position in Beauty Health by 30.6% in the fourth quarter. Millennium Management LLC now owns 3,118,970 shares of the company’s stock worth $4,959,000 after purchasing an additional 730,647 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Beauty Health by 13.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,211,600 shares of the company’s stock valued at $1,926,000 after purchasing an additional 145,000 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Beauty Health in the fourth quarter worth approximately $129,000. Finally, Wells Fargo & Company MN increased its holdings in Beauty Health by 66.5% during the fourth quarter. Wells Fargo & Company MN now owns 193,733 shares of the company’s stock valued at $308,000 after buying an additional 77,399 shares during the last quarter. 93.26% of the stock is currently owned by institutional investors.

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.