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

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

A number of other analysts have also recently weighed in on SKIN. Piper Sandler reaffirmed an underweight rating and set a $1.00 target price (down previously from $1.50) on shares of Beauty Health in a research note on Friday, August 9th. TD Cowen lowered their target price on Beauty Health from $4.00 to $3.00 and set a hold rating for the company in a report on Monday, May 13th. Stifel Nicolaus dropped their target price on Beauty Health from $4.00 to $2.00 and set a hold rating for the company in a research report on Friday, July 26th. Finally, DA Davidson restated a buy rating and set a $5.00 price target on shares of Beauty Health in a report on Monday, May 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Beauty Health has an average rating of Hold and a consensus target price of $5.39.

Beauty Health Trading Up 8.5 %

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

Insider Buying and Selling

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

Institutional Trading of Beauty Health

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in Beauty Health by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 75,281 shares of the company’s stock worth $335,000 after acquiring an additional 5,934 shares in the last quarter. HighMark Wealth Management LLC acquired a new position in shares of Beauty Health during the first quarter valued at about $31,000. Raymond James & Associates bought a new position in shares of Beauty Health during the 4th quarter worth about $31,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beauty Health in the 4th quarter valued at about $31,000. Finally, SG Americas Securities LLC increased its position in Beauty Health by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 39,630 shares of the company’s stock valued at $123,000 after buying an additional 10,332 shares in the last quarter. 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.