TD Cowen Cuts Beauty Health (NASDAQ:SKIN) Price Target to $0.90

Beauty Health (NASDAQ:SKIN) had its price target lowered by TD Cowen from $1.00 to $0.90 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Beauty Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 23rd. Canaccord Genuity Group dropped their price target on Beauty Health from $1.50 to $1.00 and set a “hold” rating for the company in a report on Friday, May 1st. Zacks Research downgraded Beauty Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $2.00 price objective (down from $2.50) on shares of Beauty Health in a report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $1.38.

Beauty Health Stock Performance

NASDAQ SKIN opened at $0.67 on Wednesday. The stock has a market cap of $86.44 million, a PE ratio of -3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 4.36, a quick ratio of 1.48 and a current ratio of 1.76. The firm has a 50-day moving average of $0.73 and a 200-day moving average of $0.89. Beauty Health has a 52-week low of $0.55 and a 52-week high of $2.69.

Beauty Health (NASDAQ:SKIN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $72.11 million for the quarter, compared to analyst estimates of $74.45 million. Beauty Health had a negative net margin of 9.79% and a negative return on equity of 47.83%. On average, sell-side analysts anticipate that Beauty Health will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of Beauty Health by 6.6% in the second quarter. Invesco Ltd. now owns 98,427 shares of the company’s stock valued at $188,000 after buying an additional 6,059 shares in the last quarter. Rhumbline Advisers grew its position in Beauty Health by 5.7% during the third quarter. Rhumbline Advisers now owns 150,124 shares of the company’s stock worth $299,000 after buying an additional 8,142 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Beauty Health by 33.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,488 shares of the company’s stock worth $79,000 after acquiring an additional 10,410 shares during the period. Public Employees Retirement System of Ohio bought a new position in Beauty Health during the 3rd quarter worth $26,000. Finally, SG Americas Securities LLC raised its holdings in Beauty Health by 111.9% in the 4th quarter. SG Americas Securities LLC now owns 24,670 shares of the company’s stock valued at $34,000 after acquiring an additional 13,026 shares in the last quarter. 93.26% of the stock is owned by institutional investors.

About Beauty Health

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.