Canaccord Genuity Group Lowers Beauty Health (NASDAQ:SKIN) Price Target to $1.25

Beauty Health (NASDAQ:SKIN) had its price objective cut by Canaccord Genuity Group from $2.00 to $1.25 in a research report report published on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

SKIN has been the topic of a number of other research reports. Stifel Nicolaus cut their price target on shares of Beauty Health from $4.00 to $2.00 and set a hold rating on the stock in a report on Friday, July 26th. DA Davidson reiterated a buy rating and set a $5.00 target price on shares of Beauty Health in a research note on Monday, May 13th. Piper Sandler restated an underweight rating and issued a $1.00 price target (down previously from $1.50) on shares of Beauty Health in a research note on Friday, August 9th. Finally, TD Cowen lowered their price objective on shares of Beauty Health from $4.00 to $3.00 and set a hold rating on the stock in a research report on Monday, May 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $5.39.

Beauty Health Price Performance

SKIN opened at $1.40 on Monday. Beauty Health has a 1 year low of $0.91 and a 1 year high of $7.23. The stock has a 50-day moving average price of $1.78 and a 200-day moving average price of $2.75. The firm has a market cap of $173.08 million, a PE ratio of -2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 10.51, a current ratio of 6.57 and a quick ratio of 5.55.

Insider Buying and Selling

In other Beauty Health news, Chairman Brent L. Saunders bought 40,450 shares of Beauty Health stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $1.08 per share, with a total value of $43,686.00. Following the completion of the acquisition, the chairman now owns 5,921,769 shares in the company, valued at $6,395,510.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 41.00% of the stock is currently owned by insiders.

Institutional Trading of Beauty Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new position in shares of Beauty Health during the 1st quarter valued at about $4,297,000. Federated Hermes Inc. raised its stake in Beauty Health by 349,616.0% during the 2nd quarter. Federated Hermes Inc. now owns 370,699 shares of the company’s stock worth $712,000 after acquiring an additional 370,593 shares during the period. Bank of New York Mellon Corp raised 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 worth $668,000 after acquiring an additional 69,329 shares during the period. Sierra Summit Advisors LLC purchased a new position in Beauty Health during the fourth quarter valued at approximately $856,000. Finally, Bayesian Capital Management LP bought a new position in shares of Beauty Health in the first quarter worth approximately $521,000. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Beauty Health Company Profile

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.