Beauty Health (NASDAQ:SKIN) Given New $2.00 Price Target at Stifel Nicolaus

Beauty Health (NASDAQ:SKIN) had its price objective trimmed by Stifel Nicolaus from $4.00 to $2.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts have also issued reports on SKIN. DA Davidson restated a buy rating and set a $5.00 price objective on shares of Beauty Health in a research report on Monday, May 13th. TD Cowen reduced their price target on shares of Beauty Health from $4.00 to $3.00 and set a hold rating for the company in a report on Monday, May 13th. Finally, Piper Sandler dropped their price objective on shares of Beauty Health from $2.50 to $1.50 and set an underweight rating on the stock in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $5.86.

Beauty Health Stock Performance

SKIN stock opened at $1.87 on Friday. The firm has a fifty day moving average price of $2.02 and a two-hundred day moving average price of $2.87. The company has a current ratio of 6.57, a quick ratio of 5.55 and a debt-to-equity ratio of 10.51. Beauty Health has a 1-year low of $1.35 and a 1-year high of $8.36.

Beauty Health (NASDAQ:SKIN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. Beauty Health had a negative net margin of 20.48% and a negative return on equity of 0.02%. The firm had revenue of $81.40 million for the quarter, compared to analyst estimates of $80.56 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Beauty Health’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, analysts anticipate that Beauty Health will post -0.07 EPS for the current fiscal year.

Institutional Trading of Beauty Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Beauty Health during the first quarter valued at approximately $4,297,000. Bank of New York Mellon Corp boosted its stake in 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 valued at $668,000 after purchasing an additional 69,329 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Beauty Health during the 4th quarter valued at $856,000. Grimes & Company Inc. acquired a new stake in shares of Beauty Health in the fourth quarter valued at $683,000. Finally, Global Retirement Partners LLC boosted its stake in Beauty Health by 359.5% during the fourth quarter. Global Retirement Partners LLC now owns 119,023 shares of the company’s stock valued at $370,000 after buying an additional 93,123 shares in the last quarter. 93.26% of the stock is currently owned by institutional investors.

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.