Canaccord Genuity Group Lowers Beauty Health (NASDAQ:SKIN) Price Target to $1.50

Beauty Health (NASDAQ:SKIN) had its price target decreased by investment analysts at Canaccord Genuity Group from $1.75 to $1.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 13.64% from the company’s previous close.

Beauty Health Price Performance

SKIN opened at $1.32 on Thursday. The business’s 50-day moving average is $1.57 and its two-hundred day moving average is $1.57. Beauty Health has a 1 year low of $0.91 and a 1 year high of $4.62. 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 $163.84 million, a PE ratio of -3.14 and a beta of 0.84.

Beauty Health (NASDAQ:SKIN) last posted its earnings results on Wednesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. Beauty Health had a negative return on equity of 44.83% and a negative net margin of 8.11%. The company had revenue of $83.50 million for the quarter, compared to analyst estimates of $78.02 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Research analysts anticipate that Beauty Health will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beauty Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC grew its stake in shares of Beauty Health by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 20,959 shares of the company’s stock worth $33,000 after acquiring an additional 6,896 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Beauty Health by 30.6% during the fourth quarter. Millennium Management LLC now owns 3,118,970 shares of the company’s stock valued at $4,959,000 after acquiring an additional 730,647 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Beauty Health by 13.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,211,600 shares of the company’s stock valued at $1,926,000 after acquiring an additional 145,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Beauty Health during the fourth quarter valued at about $129,000. Finally, Northern Trust Corp increased its holdings in shares of Beauty Health by 6.8% during the fourth quarter. Northern Trust Corp now owns 663,752 shares of the company’s stock valued at $1,055,000 after acquiring an additional 42,078 shares in the last quarter. Hedge funds and other institutional investors own 93.26% 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.