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

Bank of America cut shares of Hims & Hers Health (NYSE:HIMS) from a buy rating to an underperform rating in a research note published on Thursday morning, MarketBeat Ratings reports.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price on the stock. TD Cowen lifted their price objective on shares of Hims & Hers Health from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group upped their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.21.

Hims & Hers Health Trading Down 6.7 %

HIMS stock traded down $1.40 during trading on Thursday, hitting $19.45. 23,245,674 shares of the company’s stock were exchanged, compared to its average volume of 9,217,159. The business has a 50-day moving average price of $19.64 and a two-hundred day moving average price of $18.78. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 44.55 and a beta of 1.06. Hims & Hers Health has a 52-week low of $7.40 and a 52-week high of $30.44.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping 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%. The company’s revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, equities research analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.56, for a total value of $2,750,209.28. Following the completion of the transaction, the chief executive officer now owns 33,502 shares in the company, valued at $487,789.12. This trade represents a 84.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Oluyemi Okupe sold 142,886 shares of Hims & Hers Health stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.93, for a total value of $4,276,577.98. Following the transaction, the chief financial officer now directly owns 112,186 shares of the company’s stock, valued at $3,357,726.98. This trade represents a 56.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 996,961 shares of company stock valued at $20,256,416 in the last ninety days. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HIMS. Nisa Investment Advisors LLC lifted its holdings 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 purchasing an additional 1,603 shares in the last quarter. Quest Partners LLC boosted its position in Hims & Hers Health by 5,944.1% during the second 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 last quarter. CWM LLC grew its stake in Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares during the period. Van ECK Associates Corp acquired a new position in Hims & Hers Health in the 2nd quarter valued at $111,000. Finally, Quarry LP lifted its stake in shares of Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after purchasing an additional 2,913 shares during the period. 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.