Beauty Health (NASDAQ:SKIN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Beauty Health (NASDAQ:SKIN) had its price target upped by stock analysts at Canaccord Genuity Group from $1.25 to $1.75 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential downside of 2.78% from the stock’s current price.

SKIN has been the subject of several other research reports. Stifel Nicolaus lowered their price objective on Beauty Health from $4.00 to $2.00 and set a “hold” rating for the company in a research report on Friday, July 26th. Piper Sandler reissued an “underweight” rating and issued a $1.00 price target (down from $1.50) on shares of Beauty Health in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.54.

Beauty Health Trading Up 5.9 %

Shares of NASDAQ SKIN traded up $0.10 during trading on Wednesday, reaching $1.80. The company had a trading volume of 366,669 shares, compared to its average volume of 1,866,102. The company’s fifty day moving average price is $1.57 and its 200-day moving average price is $1.89. Beauty Health has a 12 month low of $0.91 and a 12 month high of $5.17. The stock has a market cap of $223.24 million, a P/E ratio of -2.17 and a beta of 0.90. The company has a quick ratio of 5.47, a current ratio of 6.49 and a debt-to-equity ratio of 7.96.

Beauty Health (NASDAQ:SKIN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The company had revenue of $78.80 million during the quarter, compared to analysts’ expectations of $77.79 million. Beauty Health had a negative return on equity of 4.57% and a negative net margin of 22.86%. As a group, research analysts expect that Beauty Health will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Beauty Health

Several institutional investors and hedge funds have recently made changes to their positions in SKIN. Jacobs Levy Equity Management Inc. bought a new stake in Beauty Health during the 1st quarter worth about $4,297,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Beauty Health by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,840 shares of the company’s stock valued at $926,000 after purchasing an additional 31,522 shares during the period. Cohen Capital Management Inc. raised its holdings in shares of Beauty Health by 344.1% in the 3rd quarter. Cohen Capital Management Inc. now owns 572,848 shares of the company’s stock valued at $825,000 after purchasing an additional 443,859 shares during the period. Federated Hermes Inc. raised its holdings in shares of Beauty Health by 349,616.0% in the 2nd quarter. Federated Hermes Inc. now owns 370,699 shares of the company’s stock valued at $712,000 after purchasing an additional 370,593 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Beauty Health by 24.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 348,108 shares of the company’s stock valued at $668,000 after purchasing an additional 69,329 shares during the period. Institutional investors and hedge funds 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.