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

Hims & Hers Health (NYSE:HIMS) was downgraded by investment analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued on Thursday, MarketBeat.com reports. They currently have a $18.00 price objective on the stock, down from their prior price objective of $32.00. Bank of America‘s price target would indicate a potential downside of 7.02% from the stock’s previous close.

HIMS has been the topic of several other reports. Needham & Company LLC started coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price target on the stock. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, TD Cowen upped their target price 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. One equities research 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. According to MarketBeat, Hims & Hers Health currently has an average rating of “Hold” and a consensus target price of $20.71.

Hims & Hers Health Stock Down 7.1 %

Shares of HIMS stock opened at $19.36 on Thursday. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 44.00 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. The stock has a 50-day moving average price of $19.76 and a 200 day moving average price of $18.83.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($0.04) EPS. Sell-side analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, Director Christiane Pendarvis sold 7,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $15.15, for a total transaction of $106,050.00. Following the sale, the director now directly owns 23,917 shares of the company’s stock, valued at approximately $362,342.55. This represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total transaction of $2,750,209.28. Following the completion of the transaction, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $487,789.12. This trade represents a 84.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 996,961 shares of company stock worth $20,256,416. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after acquiring an additional 1,603 shares during the last quarter. Quest Partners LLC increased its stake in shares of 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 purchasing an additional 3,507 shares during the period. CWM LLC lifted its holdings in Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares during the last quarter. Van ECK Associates Corp bought a new stake in Hims & Hers Health in the 2nd quarter valued at $111,000. Finally, Quarry LP boosted its stake in Hims & Hers Health by 91.0% in the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares during the period. 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.