Beauty Health (NASDAQ:SKIN) Price Target Cut to $1.50 by Analysts at Piper Sandler

Beauty Health (NASDAQ:SKIN) had its price target decreased by Piper Sandler from $2.50 to $1.50 in a research note issued to investors on Thursday, Benzinga reports. Piper Sandler currently has an underweight rating on the stock.

A number of other equities analysts have also recently commented on SKIN. Canaccord Genuity Group lifted their price objective on shares of Beauty Health from $3.00 to $4.00 and gave the stock a hold rating in a research note on Thursday, March 14th. Stifel Nicolaus restated a hold rating and issued a $4.00 target price (up previously from $3.00) on shares of Beauty Health in a report on Wednesday, March 13th. DA Davidson restated a buy rating and issued a $5.00 target price on shares of Beauty Health in a report on Monday, May 13th. Finally, TD Cowen lowered their target price on shares of Beauty Health from $4.00 to $3.00 and set a hold rating for the company in a report on Monday, May 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Beauty Health presently has an average rating of Hold and an average price target of $6.14.

Beauty Health Stock Performance

SKIN opened at $2.01 on Thursday. The stock has a market capitalization of $248.50 million, a price-to-earnings ratio of -2.87 and a beta of 0.96. The company has a fifty day moving average of $2.26 and a 200 day moving average of $2.95. Beauty Health has a fifty-two week low of $1.35 and a fifty-two week high of $8.83. The company has a debt-to-equity ratio of 10.51, a quick ratio of 5.55 and a current ratio of 6.57.

Beauty Health (NASDAQ:SKIN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. Beauty Health had a negative net margin of 20.48% and a negative return on equity of 0.02%. The business had revenue of $81.40 million during the quarter, compared to analysts’ expectations of $80.56 million. During the same period last year, the company posted ($0.17) EPS. The business’s revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Beauty Health will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beauty Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Beauty Health by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 75,281 shares of the company’s stock valued at $335,000 after buying an additional 5,934 shares in the last quarter. HighMark Wealth Management LLC purchased a new position in Beauty Health during the 1st quarter valued at about $31,000. Raymond James & Associates purchased a new position in Beauty Health during the 4th quarter valued at about $31,000. Raymond James Financial Services Advisors Inc. purchased a new position in Beauty Health during the 4th quarter valued at about $31,000. Finally, SG Americas Securities LLC increased its position in Beauty Health by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 39,630 shares of the company’s stock valued at $123,000 after purchasing an additional 10,332 shares during the period. Institutional investors own 93.26% of the company’s stock.

Beauty Health Company Profile

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.