Braidwell LP Decreases Position in The Beauty Health Company (NASDAQ:SKIN)

Braidwell LP decreased its position in shares of The Beauty Health Company (NASDAQ:SKIN) by 20.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,049,694 shares of the company’s stock after selling 1,070,991 shares during the quarter. Braidwell LP’s holdings in Beauty Health were worth $5,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. boosted 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 valued at $712,000 after purchasing an additional 370,593 shares during the last quarter. Cohen Capital Management Inc. lifted its holdings in shares of Beauty Health by 344.1% during the third quarter. Cohen Capital Management Inc. now owns 572,848 shares of the company’s stock valued at $825,000 after purchasing an additional 443,859 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Beauty Health during the first quarter valued at $279,000. Caprock Group LLC bought a new stake in Beauty Health in the 2nd quarter worth about $38,000. Finally, Bank of New York Mellon Corp raised its position in Beauty Health by 24.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 348,108 shares of the company’s stock worth $668,000 after buying an additional 69,329 shares during the last quarter. Institutional investors own 93.26% of the company’s stock.

Beauty Health Stock Up 2.8 %

Shares of NASDAQ SKIN opened at $1.47 on Friday. The Beauty Health Company has a 12-month low of $0.91 and a 12-month high of $5.17. The company has a debt-to-equity ratio of 9.23, a quick ratio of 5.57 and a current ratio of 6.56. The firm has a 50 day moving average of $1.57 and a 200 day moving average of $1.77.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SKIN. Piper Sandler reiterated an “underweight” rating and issued a $1.00 price target (down from $1.50) on shares of Beauty Health in a research note on Friday, August 9th. Canaccord Genuity Group lifted their target price on shares of Beauty Health from $1.25 to $1.75 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.55.

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, 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.