Hims & Hers Health (NYSE:HIMS) Price Target Cut to $20.00 by Analysts at Bank of America

Hims & Hers Health (NYSE:HIMS) had its target price lowered by Bank of America from $24.00 to $20.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 20.70% from the company’s previous close.

A number of other analysts have also recently commented on HIMS. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $16.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and set a $18.00 price objective on shares of Hims & Hers Health in a research note on Tuesday, August 6th. Needham & Company LLC assumed coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price on the stock. TD Cowen lifted their price target on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group increased their price objective on Hims & Hers Health from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.86.

Hims & Hers Health Trading Up 4.7 %

Shares of HIMS opened at $16.57 on Friday. The firm has a market cap of $3.56 billion, a P/E ratio of -1,657.00 and a beta of 1.05. Hims & Hers Health has a 12 month low of $5.65 and a 12 month high of $25.74. The stock’s 50 day moving average is $17.80 and its two-hundred day moving average is $16.98.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $315.65 million for the quarter, compared to analysts’ expectations of $302.43 million. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The firm’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. Equities research analysts forecast that Hims & Hers Health will post 0.22 EPS for the current year.

Insider Activity

In related news, insider Michael Chi sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $24.50, for a total value of $183,750.00. Following the completion of the sale, the insider now owns 185,326 shares of the company’s stock, valued at $4,540,487. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hims & Hers Health news, insider Soleil Boughton sold 2,334 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $17.30, for a total transaction of $40,378.20. Following the completion of the sale, the insider now owns 164,475 shares of the company’s stock, valued at $2,845,417.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Chi sold 7,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $24.50, for a total value of $183,750.00. Following the completion of the transaction, the insider now directly owns 185,326 shares in the company, valued at approximately $4,540,487. The disclosure for this sale can be found here. In the last quarter, insiders have sold 753,292 shares of company stock valued at $13,557,329. 17.71% of the stock is currently owned by insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in Hims & Hers Health by 113.1% during the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after buying an additional 3,205,108 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 3,890.5% in the 1st quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock worth $25,928,000 after acquiring an additional 1,634,000 shares during the last quarter. M&G Plc purchased a new position in shares of Hims & Hers Health during the 1st quarter worth approximately $8,232,000. State of Michigan Retirement System increased its holdings in Hims & Hers Health by 177.8% in the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock valued at $10,095,000 after purchasing an additional 320,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Hims & Hers Health by 67.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company’s stock valued at $13,701,000 after purchasing an additional 273,473 shares during the last quarter. 63.52% of the stock is 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.