Hims & Hers Health (NYSE:HIMS) Lowered to “Underperform” Rating by Bank of America

Bank of America downgraded shares of Hims & Hers Health (NYSE:HIMS) from a buy rating to an underperform rating in a report issued on Thursday, Marketbeat.com reports.

A number of other research firms have also weighed in on HIMS. TD Cowen raised their price target on shares of Hims & Hers Health from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 8th. Truist Financial lifted their target price on Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Needham & Company LLC assumed coverage on Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.21.

Hims & Hers Health Stock Performance

Shares of NYSE:HIMS traded down $1.40 during trading on Thursday, reaching $19.45. 23,245,674 shares of the stock were exchanged, compared to its average volume of 9,217,159. The firm’s 50-day moving average price is $19.64 and its 200 day moving average price is $18.78. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 44.55 and a beta of 1.06. Hims & Hers Health has a 12-month low of $7.40 and a 12-month high of $30.44.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. Hims & Hers Health’s revenue for the quarter was up 77.1% on a year-over-year basis. As a group, equities research analysts forecast that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 269,739 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the sale, the chief financial officer now owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This trade represents a 64.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Soleil Boughton sold 2,339 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total transaction of $38,593.50. Following the transaction, the insider now directly owns 176,952 shares of the company’s stock, valued at $2,919,708. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 996,961 shares of company stock valued at $20,256,416 in the last quarter. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares during the period. Quest Partners LLC boosted its position in Hims & Hers Health by 5,944.1% during the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after acquiring an additional 3,507 shares during the period. CWM LLC grew its stake in shares of Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Hims & Hers Health during the second quarter valued at $111,000. Finally, Quarry LP raised its stake in shares of Hims & Hers Health by 91.0% during the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.