Canaccord Genuity Group Has Lowered Expectations for Beauty Health (NASDAQ:SKIN) Stock Price

Beauty Health (NASDAQ:SKIN) had its price objective dropped by equities research analysts at Canaccord Genuity Group from $1.50 to $1.25 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 19.05% from the stock’s current price.

Beauty Health Price Performance

NASDAQ:SKIN opened at $1.05 on Monday. The firm’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.45. The firm has a market cap of $131.51 million, a price-to-earnings ratio of -2.50 and a beta of 0.88. Beauty Health has a one year low of $0.78 and a one year high of $3.63. The company has a debt-to-equity ratio of 9.23, a quick ratio of 5.57 and a current ratio of 6.56.

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

Institutional Inflows and Outflows

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