Hims & Hers Health (NYSE:HIMS) Receives “Underperform” Rating from Bank of America

Hims & Hers Health (NYSE:HIMS)‘s stock had its “underperform” rating restated by equities researchers at Bank of America in a research note issued to investors on Thursday,Benzinga reports. They currently have a $21.00 target price on the stock. Bank of America‘s price target would suggest a potential downside of 40.23% from the stock’s previous close.

Several other research firms also recently issued reports on HIMS. Needham & Company LLC lifted their price target on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $42.00 to $60.00 in a report on Tuesday, February 18th. TD Cowen reiterated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Piper Sandler raised their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Leerink Partners lifted their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health presently has a consensus rating of “Hold” and a consensus price target of $37.23.

Hims & Hers Health Stock Performance

HIMS traded down $5.75 on Thursday, hitting $35.14. 19,277,209 shares of the company were exchanged, compared to its average volume of 13,012,434. Hims & Hers Health has a fifty-two week low of $11.20 and a fifty-two week high of $72.98. The firm has a market capitalization of $7.81 billion, a P/E ratio of 80.38 and a beta of 1.37. The business’s fifty day moving average is $37.34 and its 200 day moving average is $27.27.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $481.14 million for the quarter, compared to analysts’ expectations of $494.56 million. Analysts forecast that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 7,259 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $24.07, for a total transaction of $174,724.13. Following the completion of the sale, the insider now owns 193,601 shares in the company, valued at approximately $4,659,976.07. The trade was a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Soleil Boughton sold 268,932 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the sale, the insider now directly owns 169,803 shares of the company’s stock, valued at $4,712,033.25. The trade was a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,062,011 shares of company stock worth $36,892,724 in the last 90 days. 17.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in shares of Hims & Hers Health during the fourth quarter worth about $28,000. Raleigh Capital Management Inc. raised its holdings in shares of Hims & Hers Health by 1,100.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,100 shares during the period. Blume Capital Management Inc. lifted its position in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 600 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after acquiring an additional 1,413 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in Hims & Hers Health in the fourth quarter valued at approximately $38,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.