Geode Capital Management LLC Sells 38,838 Shares of The Beauty Health Company (NASDAQ:SKIN)

Geode Capital Management LLC cut its stake in The Beauty Health Company (NASDAQ:SKIN) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 1,756,667 shares of the company’s stock after selling 38,838 shares during the period. Geode Capital Management LLC’s holdings in Beauty Health were worth $2,530,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Beauty Health during the third quarter worth approximately $37,000. Caprock Group LLC bought a new position in Beauty Health in the second quarter worth approximately $38,000. Sanctuary Advisors LLC purchased a new position in Beauty Health during the 2nd quarter worth $47,000. Orion Portfolio Solutions LLC bought a new stake in Beauty Health during the 3rd quarter valued at $65,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Beauty Health in the 2nd quarter worth $105,000. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their price target on Beauty Health from $1.25 to $1.75 and gave the company a “hold” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.55.

Beauty Health Stock Performance

Shares of Beauty Health stock opened at $1.90 on Wednesday. The Beauty Health Company has a one year low of $0.91 and a one year high of $5.17. The company has a market capitalization of $235.83 million, a PE ratio of -4.52 and a beta of 0.81. 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 company has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $1.62.

Beauty Health 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.