Jefferies Financial Group Downgrades Beauty Health (NASDAQ:SKIN) to Hold

Beauty Health (NASDAQ:SKIN) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, November 15th, Marketbeat Ratings reports.

A number of other equities research analysts have also recently commented on SKIN. William Blair cut shares of Beauty Health from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 14th. Piper Sandler cut shares of Beauty Health from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $12.00 to $2.00 in a report on Tuesday, November 14th. Stifel Nicolaus reduced their price objective on shares of Beauty Health from $8.00 to $3.00 and set a “hold” rating for the company in a report on Tuesday, November 14th. Benchmark cut shares of Beauty Health from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Imperial Capital started coverage on shares of Beauty Health in a report on Tuesday, September 19th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.56.

Beauty Health Price Performance

NASDAQ:SKIN remained flat at $2.22 during trading hours on Wednesday. 1,104,206 shares of the company’s stock were exchanged, compared to its average volume of 2,629,948. The company has a current ratio of 5.86, a quick ratio of 5.27 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $295.02 million, a price-to-earnings ratio of -3.40 and a beta of 1.24. The stock has a fifty day moving average price of $4.80 and a 200-day moving average price of $6.93. Beauty Health has a 1-year low of $1.35 and a 1-year high of $13.90.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Beauty Health by 16.7% in the first quarter. JPMorgan Chase & Co. now owns 109,834 shares of the company’s stock worth $1,854,000 after acquiring an additional 15,695 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Beauty Health by 121.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,102 shares of the company’s stock worth $441,000 after acquiring an additional 14,323 shares during the period. HighTower Advisors LLC bought a new stake in Beauty Health in the first quarter worth about $199,000. Citigroup Inc. raised its position in Beauty Health by 15.0% in the first quarter. Citigroup Inc. now owns 145,292 shares of the company’s stock worth $2,452,000 after acquiring an additional 18,985 shares during the period. Finally, MetLife Investment Management LLC raised its position in Beauty Health by 57.0% in the first quarter. MetLife Investment Management LLC now owns 48,780 shares of the company’s stock worth $823,000 after acquiring an additional 17,710 shares during the period.

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 HydraFacial Delivery System designed to elevate every part of the treatment and connects providers to the consumer's preferences to create a more personalized experience; HydraFacial Nation App, an app that allows consumers to learn about their skin health, discover treatment options, and track their treatments over time; and Keravive, a treatment for scalp health.