Is Beauty Health (SKIN) A Good Stock To Buy Now?
Baron Discovery Fund recently published its second-quarter commentary – a copy of which can be downloaded here. During the second quarter of 2021, the Baron Discovery Fund returned 6.07% (institutional shares). In comparison, the benchmark S&P 500 Index was up 8.55%, while the Russell 2000 Growth Index was up 3.92%. You should check out Baron Discovery Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Beauty Health Co (NASDAQ:SKIN) is one of them. Beauty Health Co (NASDAQ:SKIN) operates as a beauty health company. In the last three months, Beauty Health Co (NASDAQ:SKIN) stock gained 82%. Here is what the fund said:
“The Beauty Health Company, formerly known as HydraFacial, is an innovative skin care and beauty health company providing consumers the benefits of a professional medical treatment with the experience of a consumer brand. The Beauty Health company came public via a special purpose acquisition corporation (“SPAC”). Shares outperformed during the quarter as investors became increasingly aware of the company’s growth opportunities following the closing of the SPAC acquisition and strong earnings results where the company significantly increased annual revenue guidance. We continue to be attracted to Beauty Health’s asset light, recurring revenue business model and see a long runway for growth as the company more than doubles its base of delivery systems both domestically and internationally while better monetizing each system with new serums and different product and category extensions.”
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