TD Cowen Initiates Coverage on Beauty Health (NASDAQ:SKIN)

Key Points

• TD Cowen initiated coverage of Beauty Health with a “Hold” rating. Analyst sentiment is broadly neutral, with one Buy, six Holds, and one Sell; the consensus price target is $18.00.
• Beauty Health shares opened at $9.94, near their 52-week low of $9.68 and well below the 200-day moving average of $16.85. The company remains unprofitable, with a negative P/E ratio and analysts expecting a full-year loss.
• The company reported a quarterly loss of $0.40 per share, better than the expected $0.50 loss, while revenue of $72.11 million fell short of the $74.45 million estimate. Institutional investors own 93.26% of the stock, and Bank of America increased its stake by 19.2%.

Stock analysts at TD Cowen assumed coverage on shares of Beauty Health (NASDAQ:SKIN - Get Free Report) in a research report issued to clients and investors on Friday, Zacks reports. The firm set a "hold" rating on the stock.

A number of other research firms have also weighed in on SKIN. Jefferies Financial Group reiterated a "hold" rating and set a $11.00 price objective (up from $0.85) on shares of Beauty Health in a research note on Monday, October 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Beauty Health in a research note on Wednesday, October 21st. Stifel Nicolaus set a $10.00 target price on Beauty Health in a research note on Thursday, October 15th. Zacks Research lowered Beauty Health from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, Citigroup reiterated a "hold" rating on shares of Beauty Health in a research report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $18.00.

Beauty Health Stock Down 2.1%

NASDAQ:SKIN opened at $9.94 on Friday. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.76 and a quick ratio of 1.48. The company's fifty day moving average price is $12.48 and its 200-day moving average price is $16.85. Beauty Health has a 1-year low of $9.68 and a 1-year high of $34.80. The firm has a market capitalization of $64.68 million, a P/E ratio of -2.26 and a beta of 1.05.

Beauty Health (NASDAQ:SKIN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.10. Beauty Health had a negative net margin of 9.79% and a negative return on equity of 47.83%. The company had revenue of $72.11 million during the quarter, compared to the consensus estimate of $74.45 million. As a group, equities research analysts anticipate that Beauty Health will post -3.18 EPS for the current year.

Institutional Investors Weigh In On Beauty Health

An institutional investor recently raised its stake in Beauty Health stock. Bank of America Corp DE lifted its holdings in shares of The Beauty Health Company (NASDAQ:SKIN - Free Report) by 19.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,242 shares of the company's stock after purchasing an additional 17,088 shares during the quarter. Bank of America Corp DE owned about 0.08% of Beauty Health worth $95,000 as of its most recent filing with the SEC. 93.26% of the stock is owned by institutional investors.

Beauty Health Company Profile

BeautyHealth is a global health and beauty company focused on providing technology, products and services for aesthetic and skincare businesses. Its flagship brand, HydraFacial, offers a non-invasive treatment platform that combines cleansing, exfoliation, extraction and hydration, with treatments delivered through proprietary devices and consumable solutions.

The company also provides professional skincare products, treatment systems and related solutions designed for use by physicians, dermatologists, aestheticians and other licensed practitioners.

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