Canaccord Genuity Group Lowers Beauty Health (NASDAQ:SKIN) Price Target to $1.50

Beauty Health (NASDAQ:SKIN) had its target price dropped by Canaccord Genuity Group from $1.75 to $1.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 13.64% from the stock’s previous close.

Beauty Health Price Performance

Shares of NASDAQ:SKIN opened at $1.32 on Thursday. Beauty Health has a twelve month low of $0.91 and a twelve month high of $4.62. The company’s 50 day moving average is $1.57 and its 200 day moving average is $1.57. 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 company has a market cap of $163.84 million, a PE ratio of -3.14 and a beta of 0.84.

Beauty Health (NASDAQ:SKIN) last issued its quarterly earnings results on Wednesday, March 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Beauty Health had a negative net margin of 8.11% and a negative return on equity of 44.83%. The company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $78.02 million. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, sell-side analysts forecast that Beauty Health will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Beauty Health

Several hedge funds have recently bought and sold shares of SKIN. Charles Schwab Investment Management Inc. boosted its position in Beauty Health by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,840 shares of the company’s stock worth $926,000 after purchasing an additional 31,522 shares in the last quarter. FMR LLC boosted its position in Beauty Health by 0.3% in the 3rd quarter. FMR LLC now owns 18,603,037 shares of the company’s stock worth $26,788,000 after purchasing an additional 58,826 shares in the last quarter. Atom Investors LP boosted its position in Beauty Health by 19.7% in the 3rd quarter. Atom Investors LP now owns 99,924 shares of the company’s stock worth $144,000 after purchasing an additional 16,416 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Beauty Health in the 3rd quarter worth approximately $121,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Beauty Health by 1.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,499,652 shares of the company’s stock worth $3,599,000 after purchasing an additional 27,665 shares in the last quarter. Hedge funds and other 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.