Beauty Health (NASDAQ:SKIN) Given New $0.90 Price Target at TD Cowen

Key Points

• TD Cowen lowered Beauty Health’s price target from $1.00 to $0.90 while maintaining a “hold” rating, implying roughly 34% upside from the prior close.
• Shares fell 4.1% to $0.67, with the stock trading well below its 50-day and 200-day moving averages. Beauty Health reported a quarterly loss of $0.02 per share and revenue of $72.09 million, below the $74.45 million consensus estimate.
• Analyst sentiment remains cautious, with a consensus “hold” rating and average price target of $1.38; institutional investors own approximately 93.26% of the company’s stock.

Beauty Health (NASDAQ:SKIN - Get Free Report) had its price objective dropped by analysts at TD Cowen from $1.00 to $0.90 in a report issued on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. TD Cowen's price target would indicate a potential upside of 34.13% from the company's previous close.

SKIN has been the topic of a number of other reports. Canaccord Genuity Group dropped their price objective on shares of Beauty Health from $1.50 to $1.00 and set a "hold" rating on the stock in a report on Friday, May 1st. Roth Capital restated a "buy" rating and issued a $2.00 target price (down from $2.50) on shares of Beauty Health in a research note on Wednesday, May 20th. Weiss Ratings cut Beauty Health from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded Beauty Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $1.38.

Beauty Health Stock Down 4.1%

NASDAQ:SKIN traded down $0.03 during mid-day trading on Wednesday, hitting $0.67. 30,427 shares of the company's stock traded hands, compared to its average volume of 1,511,545. The company has a fifty day moving average of $0.73 and a 200 day moving average of $0.90. The company has a debt-to-equity ratio of 4.36, a quick ratio of 1.48 and a current ratio of 1.76. Beauty Health has a twelve month low of $0.55 and a twelve month high of $2.69. The company has a market capitalization of $86.96 million, a P/E ratio of -3.05 and a beta of 1.07.

Beauty Health (NASDAQ:SKIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $72.09 million during the quarter, compared to the consensus estimate of $74.45 million. Beauty Health had a negative return on equity of 47.83% and a negative net margin of 9.79%. On average, analysts forecast that Beauty Health will post -0.17 EPS for the current year.

Institutional Trading of Beauty Health

A number of hedge funds and other institutional investors have recently made changes to their positions in SKIN. Capricorn Fund Managers Ltd purchased a new position in shares of Beauty Health during the first quarter worth $17,270,000. Woodline Partners LP grew its position in Beauty Health by 255.9% during 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 during the period. Millennium Management LLC grew its position in 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 period. Geode Capital Management LLC raised its stake in shares of Beauty Health by 27.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,302,784 shares of the company's stock valued at $4,399,000 after buying an additional 496,963 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Beauty Health by 0.9% during the 4th quarter. State Street Corp now owns 1,871,527 shares of the company's stock valued at $2,601,000 after buying an additional 16,493 shares during 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.

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