Beauty Health (NASDAQ:SKIN) Price Target Cut to $3.00 by Analysts at TD Cowen

Beauty Health (NASDAQ:SKIN - Get Free Report) had its price objective dropped by research analysts at TD Cowen from $4.00 to $3.00 in a report released on Monday, Benzinga reports. The firm presently has a "hold" rating on the stock. TD Cowen's target price suggests a potential upside of 9.89% from the stock's current price.

Other equities research analysts have also issued reports about the company. Piper Sandler dropped their price target on Beauty Health from $3.00 to $2.50 and set an "underweight" rating on the stock in a research report on Friday. Stifel Nicolaus reiterated a "hold" rating and set a $4.00 price objective (up previously from $3.00) on shares of Beauty Health in a research note on Wednesday, March 13th. DA Davidson restated a "buy" rating and issued a $5.00 target price on shares of Beauty Health in a research note on Friday, March 15th. Finally, Canaccord Genuity Group increased their price target on Beauty Health from $3.00 to $4.00 and gave the stock a "hold" rating in a research report on Thursday, March 14th. Three 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.29.

Beauty Health Stock Down 0.4 %

NASDAQ SKIN traded down $0.01 during mid-day trading on Monday, reaching $2.73. 2,493,902 shares of the company's stock traded hands, compared to its average volume of 2,509,508. 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 $10.98. The company has a fifty day simple moving average of $3.68 and a 200-day simple moving average of $3.26. The company has a market cap of $336.96 million, a price-to-earnings ratio of -3.94 and a beta of 1.13.

Beauty Health (NASDAQ:SKIN - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.04. The business had revenue of $81.40 million for the quarter, compared to analyst estimates of $80.56 million. Beauty Health had a negative net margin of 20.48% and a negative return on equity of 0.02%. The company's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) EPS. As a group, equities research analysts expect that Beauty Health will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its position in shares of Beauty Health by 40.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 15,887 shares of the company's stock valued at $96,000 after purchasing an additional 4,600 shares in the last quarter. HighMark Wealth Management LLC bought a new position in shares of Beauty Health in the first quarter valued at $31,000. M&T Bank Corp lifted its position in shares of Beauty Health by 6.8% during the 3rd quarter. M&T Bank Corp now owns 125,706 shares of the company's stock valued at $756,000 after acquiring an additional 8,036 shares during the last quarter. Levin Capital Strategies L.P. grew its holdings in shares of Beauty Health by 100.0% in the 3rd quarter. Levin Capital Strategies L.P. now owns 20,000 shares of the company's stock worth $120,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Raymond James & Associates acquired a new stake in shares of Beauty Health during the fourth quarter worth $31,000. 93.26% of the stock is owned by institutional investors and hedge funds.

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.