Hims & Hers Health’s (HIMS) “Underperform” Rating Reaffirmed at Bank of America

Hims & Hers Health (NYSE:HIMS)‘s stock had its “underperform” rating reaffirmed by stock analysts at Bank of America in a report issued on Thursday,Benzinga reports. They presently have a $21.00 price target on the stock. Bank of America‘s target price would indicate a potential downside of 41.69% from the company’s previous close.

A number of other brokerages also recently issued reports on HIMS. Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Piper Sandler raised their target price on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Truist Financial raised their target price on Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group raised their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Citigroup restated a “sell” rating and issued a $27.00 target price on shares of Hims & Hers Health in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.23.

Hims & Hers Health Stock Performance

Shares of HIMS stock opened at $36.01 on Thursday. The stock’s 50-day simple moving average is $37.45 and its 200-day simple moving average is $27.31. The firm has a market capitalization of $8.00 billion, a PE ratio of 81.85 and a beta of 1.37. Hims & Hers Health has a fifty-two week low of $11.20 and a fifty-two week high of $72.98.

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

Insider Activity

In related news, CEO Andrew Dudum sold 128,127 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the sale, the chief executive officer now owns 97,687 shares of the company’s stock, valued at $5,692,221.49. This trade represents a 56.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Soleil Boughton sold 4,152 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the sale, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,062,011 shares of company stock valued at $36,892,724. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its stake in Hims & Hers Health by 18.1% in the third quarter. Creative Planning now owns 25,925 shares of the company’s stock valued at $478,000 after purchasing an additional 3,979 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Hims & Hers Health in the third quarter valued at approximately $604,000. QRG Capital Management Inc. increased its stake in Hims & Hers Health by 3.9% in the third quarter. QRG Capital Management Inc. now owns 162,029 shares of the company’s stock valued at $2,985,000 after purchasing an additional 6,077 shares during the last quarter. Olympiad Research LP purchased a new position in shares of Hims & Hers Health during the third quarter worth approximately $262,000. Finally, Principal Financial Group Inc. grew its position in shares of Hims & Hers Health by 102.0% during the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after acquiring an additional 146,621 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.