The Manufacturers Life Insurance Company Reduces Holdings in The Beauty Health Company (NASDAQ:SKIN)

The Manufacturers Life Insurance Company lowered its stake in shares of The Beauty Health Company (NASDAQ:SKIN) by 42.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,336 shares of the company’s stock after selling 14,124 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Beauty Health were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in Beauty Health by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 75,281 shares of the company’s stock worth $335,000 after acquiring an additional 5,934 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Beauty Health by 14.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 81,285 shares of the company’s stock worth $361,000 after buying an additional 10,566 shares during the last quarter. SageView Advisory Group LLC bought a new position in Beauty Health during the 1st quarter valued at approximately $60,000. Caprock Group LLC purchased a new position in Beauty Health during the second quarter valued at $38,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Beauty Health during the first quarter valued at $200,000. 93.26% of the stock is owned by institutional investors.

Insider Transactions at Beauty Health

In related news, Chairman Brent L. Saunders acquired 40,450 shares of Beauty Health stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $1.08 per share, for a total transaction of $43,686.00. Following the purchase, the chairman now directly owns 5,921,769 shares of the company’s stock, valued at approximately $6,395,510.52. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 41.00% of the company’s stock.

Beauty Health Price Performance

SKIN stock opened at $1.60 on Tuesday. The company has a market cap of $198.43 million, a price-to-earnings ratio of -1.93 and a beta of 0.94. The company has a debt-to-equity ratio of 7.96, a quick ratio of 5.47 and a current ratio of 6.49. The business’s 50-day moving average is $1.54 and its two-hundred day moving average is $2.10. The Beauty Health Company has a fifty-two week low of $0.91 and a fifty-two week high of $5.17.

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

Wall Street Analyst Weigh In

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

Beauty Health 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.