Geode Capital Management LLC Sells 38,838 Shares of The Beauty Health Company (NASDAQ:SKIN)

Geode Capital Management LLC reduced its position in shares of The Beauty Health Company (NASDAQ:SKIN) by 2.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,756,667 shares of the company’s stock after selling 38,838 shares during the quarter. Geode Capital Management LLC owned about 1.42% of Beauty Health worth $2,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. lifted its position in Beauty Health by 349,616.0% during the second quarter. Federated Hermes Inc. now owns 370,699 shares of the company’s stock valued at $712,000 after purchasing an additional 370,593 shares during the last quarter. Cohen Capital Management Inc. raised its position in shares of Beauty Health by 344.1% during the 3rd quarter. Cohen Capital Management Inc. now owns 572,848 shares of the company’s stock valued at $825,000 after buying an additional 443,859 shares in the last quarter. HighTower Advisors LLC purchased a new position in Beauty Health in the third quarter worth about $121,000. FMR LLC raised its position in Beauty Health by 0.3% during the third quarter. FMR LLC now owns 18,603,037 shares of the company’s stock valued at $26,788,000 after purchasing an additional 58,826 shares during the period. Finally, Caprock Group LLC purchased a new stake in Beauty Health during the second quarter valued at approximately $38,000. 93.26% of the stock is owned by hedge funds and other institutional investors.

Beauty Health Stock Performance

Beauty Health stock opened at $1.90 on Wednesday. The company has a debt-to-equity ratio of 9.23, a current ratio of 6.56 and a quick ratio of 5.57. The firm has a market capitalization of $235.83 million, a P/E ratio of -4.52 and a beta of 0.81. The Beauty Health Company has a 1-year low of $0.91 and a 1-year high of $5.17. The company’s 50-day moving average is $1.57 and its 200 day moving average is $1.62.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their target price on Beauty Health from $1.25 to $1.75 and gave the company a “hold” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.55.

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.