Brokerages Set The Beauty Health Company (NASDAQ:SKIN) Target Price at $6.29

Shares of The Beauty Health Company (NASDAQ:SKIN) have been assigned an average recommendation of “Reduce” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.29.

A number of analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Beauty Health from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. Stifel Nicolaus restated a “hold” rating and set a $4.00 price target (up from $3.00) on shares of Beauty Health in a report on Wednesday, March 13th. Piper Sandler dropped their price target on shares of Beauty Health from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Friday, May 10th. DA Davidson reissued a “buy” rating and set a $5.00 price objective on shares of Beauty Health in a research report on Monday, May 13th. Finally, TD Cowen decreased 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.

Beauty Health Price Performance

Shares of SKIN stock opened at $2.74 on Thursday. The business’s fifty day moving average is $3.60 and its 200 day moving average is $3.21. The company has a quick ratio of 5.55, a current ratio of 6.57 and a debt-to-equity ratio of 10.51. The stock has a market cap of $338.20 million, a price-to-earnings ratio of -3.91 and a beta of 1.13. Beauty Health has a twelve month low of $1.35 and a twelve month high of $10.60.

Beauty Health (NASDAQ:SKIN) last released its earnings results on Thursday, May 9th. The company reported ($0.10) earnings per share 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 firm had revenue of $81.40 million for the quarter, compared to the consensus estimate of $80.56 million. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue was down 5.7% compared to the same quarter last year. Research analysts expect that Beauty Health will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Beauty Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Senvest Management LLC lifted its holdings in shares of Beauty Health by 30.8% during the 3rd quarter. Senvest Management LLC now owns 8,937,381 shares of the company’s stock valued at $53,803,000 after buying an additional 2,106,622 shares during the period. Braidwell LP purchased a new position in Beauty Health in the third quarter worth about $9,790,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Beauty Health during the 1st quarter valued at about $4,297,000. Pasadena Private Wealth LLC purchased a new stake in shares of Beauty Health during the 4th quarter valued at about $1,857,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Beauty Health in the 3rd quarter worth approximately $2,042,000. 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.