Beauty Health (NASDAQ:SKIN) Price Target Lowered to $0.90 at TD Cowen

Beauty Health (NASDAQ:SKIN) had its price target cut by TD Cowen from $1.00 to $0.90 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 34.13% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Beauty Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 23rd. Zacks Research lowered Beauty Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Roth Capital reaffirmed a “buy” rating and issued a $2.00 price target (down from $2.50) on shares of Beauty Health in a report on Wednesday, May 20th. Finally, Canaccord Genuity Group reduced their price target on Beauty Health from $1.50 to $1.00 and set a “hold” rating for the company in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Beauty Health currently has an average rating of “Hold” and a consensus target price of $1.38.

Beauty Health Stock Performance

Shares of NASDAQ SKIN traded down $0.03 during midday trading on Wednesday, reaching $0.67. 30,427 shares of the stock were exchanged, compared to its average volume of 1,511,545. The firm has a market cap of $86.96 million, a price-to-earnings ratio of -3.05 and a beta of 1.07. Beauty Health has a twelve month low of $0.55 and a twelve month high of $2.69. The firm has a 50-day simple moving average of $0.73 and a two-hundred day simple moving average of $0.90. The company has a quick ratio of 1.48, a current ratio of 1.76 and a debt-to-equity ratio of 4.36.

Beauty Health (NASDAQ:SKIN) last posted its earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $72.09 million during the quarter, compared to analysts’ expectations of $74.45 million. Beauty Health had a negative net margin of 9.79% and a negative return on equity of 47.83%. As a group, analysts anticipate that Beauty Health will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Capricorn Fund Managers Ltd purchased a new stake in Beauty Health during the 1st quarter valued at about $17,270,000. Woodline Partners LP lifted its stake in Beauty Health by 255.9% in the 3rd quarter. Woodline Partners LP now owns 5,930,027 shares of the company’s stock worth $11,801,000 after purchasing an additional 4,263,997 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Beauty Health by 127.0% during the 4th quarter. Millennium Management LLC now owns 5,764,802 shares of the company’s stock worth $8,013,000 after purchasing an additional 3,225,668 shares during the last quarter. Soleus Capital Management L.P. purchased a new stake in shares of Beauty Health in the second quarter valued at approximately $1,910,000. Finally, Geode Capital Management LLC grew its position in shares of Beauty Health by 27.5% in the second quarter. Geode Capital Management LLC now owns 2,302,784 shares of the company’s stock valued at $4,399,000 after purchasing an additional 496,963 shares in the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.

Beauty Health Company Profile

Beauty Health Company (NASDAQ: SKIN) is a U.S.-based consumer wellness and beauty enterprise that integrates device-based and product-based offerings across skin, body and hair wellness categories. The company operates a portfolio of established brands that blend professional and at-home solutions, focusing on innovative formulations and technologies to address a range of beauty and self-care needs. Through its proprietary e-commerce platforms and strategic retail partnerships, Beauty Health seeks to deliver premium experiences and tangible results to a global customer base.

Beauty Health’s brand portfolio includes Sol de Janeiro, known for its award-winning Brazilian Bum Bum Cream body care collection; Elemis, a U.K.-originated professional skin care line distributed in spas and skincare clinics; NuFACE and Dermaflash, two at-home beauty device brands specializing in microcurrent facial toning and gentle exfoliation respectively; and Nutrafol, a legal-strength hair wellness supplement clinically designed to support hair growth.