Sanctuary Advisors LLC Takes $47,000 Position in The Beauty Health Company (NASDAQ:SKIN)

Sanctuary Advisors LLC acquired a new position in The Beauty Health Company (NASDAQ:SKIN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,592 shares of the company’s stock, valued at approximately $47,000.

Several other hedge funds also recently bought and sold shares of SKIN. Jacobs Levy Equity Management Inc. acquired a new position in shares of Beauty Health during the 1st quarter valued at about $4,297,000. Federated Hermes Inc. grew its holdings in shares of Beauty Health by 349,616.0% during the 2nd quarter. Federated Hermes Inc. now owns 370,699 shares of the company’s stock worth $712,000 after purchasing an additional 370,593 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Beauty Health by 24.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 348,108 shares of the company’s stock worth $668,000 after purchasing an additional 69,329 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Beauty Health during the first quarter worth $521,000. Finally, 180 Wealth Advisors LLC raised its stake 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 acquiring an additional 20,570 shares during the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Beauty Health Stock Performance

NASDAQ:SKIN opened at $1.60 on Tuesday. The Beauty Health Company has a one year low of $0.91 and a one year high of $5.17. The company has a market cap of $198.43 million, a PE ratio of -1.93 and a beta of 0.94. The firm has a 50-day moving average of $1.54 and a 200-day moving average of $2.10. The company has a debt-to-equity ratio of 7.96, a current ratio of 6.49 and a quick ratio of 5.47.

Beauty Health (NASDAQ:SKIN) last released its earnings results 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 company 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%. As a group, equities research analysts expect that The Beauty Health Company will post -0.2 EPS for the current fiscal year.

Insider Transactions at Beauty Health

In other Beauty Health news, Chairman Brent L. Saunders bought 40,450 shares of Beauty Health stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $1.08 per share, with a total value of $43,686.00. Following the acquisition, the chairman now owns 5,921,769 shares in the company, valued at approximately $6,395,510.52. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 41.00% 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.