Bank of New York Mellon Corp Increases Position in The Beauty Health Company (NASDAQ:SKIN)

Bank of New York Mellon Corp lifted its position in shares of The Beauty Health Company (NASDAQ:SKIN) by 24.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 348,108 shares of the company’s stock after buying an additional 69,329 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.28% of Beauty Health worth $668,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SKIN. HighMark Wealth Management LLC purchased a new position in Beauty Health during the first quarter valued at $31,000. SageView Advisory Group LLC purchased a new position in shares of Beauty Health during the first quarter valued at about $60,000. Aigen Investment Management LP increased its holdings in shares of Beauty Health by 88.7% in the fourth quarter. Aigen Investment Management LP now owns 31,865 shares of the company’s stock worth $99,000 after purchasing an additional 14,974 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Beauty Health by 25.3% in the second quarter. 180 Wealth Advisors LLC now owns 101,855 shares of the company’s stock worth $187,000 after buying an additional 20,570 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Beauty Health during the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Beauty Health Stock Down 5.9 %

SKIN opened at $1.44 on Monday. The company has a quick ratio of 5.47, a current ratio of 6.49 and a debt-to-equity ratio of 7.96. The Beauty Health Company has a twelve month low of $0.91 and a twelve month high of $6.25. The company has a market cap of $178.03 million, a PE ratio of -2.06 and a beta of 0.95. The company has a 50-day moving average price of $1.62 and a 200 day moving average price of $2.48.

Beauty Health (NASDAQ:SKIN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $90.60 million during the quarter, compared to analysts’ expectations of $98.46 million. Beauty Health had a negative net margin of 22.86% and a negative return on equity of 4.57%. Sell-side analysts expect that The Beauty Health Company will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Canaccord Genuity Group decreased their price objective on Beauty Health from $2.00 to $1.25 and set a “hold” rating on the stock in a report on Monday, August 12th. Piper Sandler reaffirmed an “underweight” rating and set a $1.00 price target (down previously from $1.50) on shares of Beauty Health in a research note on Friday, August 9th. Finally, Stifel Nicolaus dropped their price objective on shares of Beauty Health from $4.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.46.

Insider Transactions at Beauty Health

In other Beauty Health news, Chairman Brent L. Saunders purchased 40,450 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $1.08 per share, for a total transaction of $43,686.00. Following the completion of the purchase, the chairman now directly owns 5,921,769 shares in the company, valued at approximately $6,395,510.52. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 41.00% of the company’s stock.

About Beauty Health

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.