Hims & Hers Health (NYSE:HIMS) Downgraded by Citigroup to Sell

Citigroup lowered shares of Hims & Hers Health (NYSE:HIMS) from a neutral rating to a sell rating in a report released on Friday, MarketBeat reports. The brokerage currently has $25.00 price target on the stock, up from their previous price target of $24.00.

A number of other research firms have also recently commented on HIMS. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. BTIG Research initiated coverage on shares of Hims & Hers Health in a research note on Tuesday. They issued a “buy” rating and a $35.00 price target on the stock. Piper Sandler raised their price objective on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Canaccord Genuity Group upped their target price on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, TD Cowen reissued a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Hold” and an average target price of $25.13.

Hims & Hers Health Trading Down 1.2 %

NYSE HIMS opened at $25.41 on Friday. The firm’s fifty day moving average price is $27.21 and its two-hundred day moving average price is $21.65. Hims & Hers Health has a 1 year low of $8.14 and a 1 year high of $35.02. The firm has a market capitalization of $5.55 billion, a P/E ratio of 57.75 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Hims & Hers Health’s revenue was up 77.1% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. On average, research analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Transactions at Hims & Hers Health

In related news, insider Soleil Boughton sold 268,932 shares of the firm’s 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 sale, the insider now owns 169,803 shares of the company’s stock, valued at $4,712,033.25. This trade represents a 61.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Chi sold 17,303 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $27.97, for a total value of $483,964.91. Following the completion of the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $5,415,019.97. The trade was a 8.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,333,446 shares of company stock valued at $34,175,197. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. GAMMA Investing LLC grew its stake in shares of Hims & Hers Health by 2,173.7% in the fourth quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock worth $54,000 after purchasing an additional 2,152 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Hims & Hers Health by 102.0% in the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock valued at $5,349,000 after buying an additional 146,621 shares during the period. Sanctuary Advisors LLC raised its position in shares of Hims & Hers Health by 26.8% during the third quarter. Sanctuary Advisors LLC now owns 26,057 shares of the company’s stock worth $480,000 after acquiring an additional 5,505 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Hims & Hers Health in the third quarter worth approximately $1,252,000. Finally, Geode Capital Management LLC boosted its holdings in Hims & Hers Health by 12.7% in the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after acquiring an additional 482,177 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.