Daiwa Securities Group Inc. purchased a new stake in The Beauty Health Company (NASDAQ:SKIN – Get Rating) during the first quarter, Holdings Channel reports. The institutional investor purchased 27,175 shares of the company’s stock, valued at approximately $459,000.
A number of other hedge funds also recently bought and sold shares of SKIN. William Blair Investment Management LLC raised its position in Beauty Health by 232.2% in the 4th quarter. William Blair Investment Management LLC now owns 6,251,906 shares of the company’s stock valued at $151,046,000 after purchasing an additional 4,370,217 shares in the last quarter. Senvest Management LLC raised its position in Beauty Health by 2,693.7% in the 4th quarter. Senvest Management LLC now owns 1,396,867 shares of the company’s stock valued at $33,748,000 after purchasing an additional 1,346,867 shares in the last quarter. Invesco Ltd. raised its position in Beauty Health by 33.8% in the 4th quarter. Invesco Ltd. now owns 4,612,468 shares of the company’s stock valued at $111,437,000 after purchasing an additional 1,164,268 shares in the last quarter. Luxor Capital Group LP raised its position in Beauty Health by 29.7% in the 4th quarter. Luxor Capital Group LP now owns 4,108,912 shares of the company’s stock valued at $99,271,000 after purchasing an additional 941,138 shares in the last quarter. Finally, Credit Suisse AG acquired a new stake in Beauty Health in the 4th quarter valued at about $19,218,000. Institutional investors and hedge funds own 72.01% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on SKIN shares. Canaccord Genuity Group reduced their price target on Beauty Health from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Piper Sandler dropped their price objective on Beauty Health from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Canaccord Genuity Group dropped their price objective on Beauty Health from $22.00 to $20.00 in a report on Thursday, June 30th. Finally, DA Davidson dropped their price objective on Beauty Health from $35.00 to $24.00 in a report on Wednesday, May 11th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.78.
Beauty Health Trading Down 10.1 %
NASDAQ:SKIN opened at $12.90 on Monday. The stock’s 50 day moving average price is $12.91 and its 200 day moving average price is $14.54. The company has a market capitalization of $1.93 billion, a PE ratio of -3.79 and a beta of 1.67. The company has a quick ratio of 13.57, a current ratio of 14.25 and a debt-to-equity ratio of 2.14. The Beauty Health Company has a 52-week low of $9.94 and a 52-week high of $30.17.
Beauty Health (NASDAQ:SKIN – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $75.40 million for the quarter, compared to analysts’ expectations of $68.15 million. Beauty Health had a negative return on equity of 0.01% and a negative net margin of 117.84%. The business’s revenue was up 58.7% on a year-over-year basis. On average, research analysts anticipate that The Beauty Health Company will post 0.06 EPS for the current year.
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, peel, exfoliate, extract, infuse, and hydrate the skin with proprietary solutions and serums.
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