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May 27, 2023

Fmr LLC Sells 2,757,678 Shares of The Beauty Health Company (NASDAQ:SKIN)

Fmr LLC cut its position in shares of The Beauty Health Company (NASDAQ:SKIN - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the

Fmr LLC cut its position in shares of The Beauty Health Company (NASDAQ:SKIN - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,875,007 shares of the company's stock after selling 2,757,678 shares during the period. Fmr LLC owned about 15.00% of Beauty Health worth $251,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. bought a new stake in shares of Beauty Health during the first quarter valued at approximately $83,000. State of Wyoming increased its position in shares of Beauty Health by 46.4% during the fourth quarter. State of Wyoming now owns 6,791 shares of the company's stock valued at $62,000 after purchasing an additional 2,152 shares during the period. Royal Bank of Canada increased its position in shares of Beauty Health by 22.8% during the third quarter. Royal Bank of Canada now owns 7,700 shares of the company's stock valued at $91,000 after purchasing an additional 1,430 shares during the period. Amundi increased its position in shares of Beauty Health by 24.1% during the fourth quarter. Amundi now owns 9,032 shares of the company's stock valued at $92,000 after purchasing an additional 1,754 shares during the period. Finally, Millennium Management LLC bought a new stake in Beauty Health in the second quarter valued at $132,000.

In other Beauty Health news, Director Doug K. Schillinger purchased 33,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was bought at an average cost of $6.11 per share, for a total transaction of $201,630.00. Following the completion of the acquisition, the director now directly owns 64,450 shares of the company's stock, valued at $393,789.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Doug K. Schillinger purchased 33,000 shares of the firm's stock in a transaction on Wednesday, August 16th. The stock was purchased at an average cost of $6.11 per share, for a total transaction of $201,630.00. Following the completion of the purchase, the director now directly owns 64,450 shares in the company, valued at $393,789.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael P. Monahan purchased 5,000 shares of the firm's stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $6.02 per share, with a total value of $30,100.00. Following the completion of the purchase, the chief financial officer now owns 358,107 shares of the company's stock, valued at $2,155,804.14. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 97,380 shares of company stock valued at $593,948. 41.70% of the stock is currently owned by company insiders.

A number of brokerages have weighed in on SKIN. Piper Sandler lowered their price target on Beauty Health from $17.00 to $15.00 in a research report on Thursday, June 15th. Stifel Nicolaus cut Beauty Health from a "buy" rating to a "hold" rating and decreased their target price for the stock from $17.00 to $10.00 in a report on Tuesday, June 20th. Benchmark restated a "buy" rating and set a $23.00 target price on shares of Beauty Health in a report on Tuesday, August 8th. DA Davidson decreased their target price on Beauty Health from $35.00 to $16.50 and set a "buy" rating on the stock in a report on Thursday, August 10th. Finally, TD Cowen decreased their target price on Beauty Health from $15.00 to $9.00 and set an "outperform" rating on the stock in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.28.

Check Out Our Latest Analysis on SKIN

Shares of SKIN opened at $6.17 on Thursday. The company has a quick ratio of 7.98, a current ratio of 9.28 and a debt-to-equity ratio of 4.55. The Beauty Health Company has a 12-month low of $5.77 and a 12-month high of $14.00. The firm has a market capitalization of $819.91 million, a PE ratio of -44.07 and a beta of 1.10. The stock's fifty day simple moving average is $7.61 and its 200-day simple moving average is $9.88.

Beauty Health (NASDAQ:SKIN - Get Free Report) last released its earnings results on Wednesday, August 9th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Beauty Health had a negative net margin of 3.83% and a negative return on equity of 3.84%. The company had revenue of $117.50 million during the quarter, compared to analyst estimates of $114.89 million. During the same period in the previous year, the company posted ($0.09) EPS. The company's quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts predict that The Beauty Health Company will post 0.03 earnings per share for the current year.

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 HydraFacial Delivery System designed to elevate every part of the treatment and connects providers to the consumer's preferences to create a more personalized experience; HydraFacial Nation App, an app that allows consumers to learn about their skin health, discover treatment options, and track their treatments over time; and Keravive, a treatment for scalp health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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