Hims & Hers Health (NYSE:HIMS) Earns Buy Rating from Analysts at BTIG Research

Research analysts at BTIG Research assumed coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $35.00 price target on the stock. BTIG Research’s price target would indicate a potential upside of 30.50% from the company’s current price.

A number of other brokerages have also weighed in on HIMS. Deutsche Bank Aktiengesellschaft increased their target price on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. TD Cowen reissued a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Morgan Stanley started coverage on shares of Hims & Hers Health in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price target on the stock. Finally, Piper Sandler lifted 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 note on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.80.

Hims & Hers Health Price Performance

HIMS stock opened at $26.82 on Tuesday. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 60.96 and a beta of 1.31. The company has a fifty day moving average price of $26.73 and a two-hundred day moving average price of $21.53. Hims & Hers Health has a one year low of $8.14 and a one year high of $35.02.

Hims & Hers Health (NYSE:HIMS) last announced its 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 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) EPS. Research analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 269,739 shares of the firm’s stock in a transaction that occurred on 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 directly owns 145,763 shares in the company, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.41, for a total transaction of $47,738.99. Following the sale, the insider now directly owns 172,274 shares in the company, valued at $3,516,112.34. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,064,514 shares of company stock valued at $26,712,334. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in shares of Hims & Hers Health by 763.4% during the second quarter. Principal Financial Group Inc. now owns 143,793 shares of the company’s stock worth $2,903,000 after buying an additional 127,138 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Hims & Hers Health during the 2nd quarter worth $479,000. Van ECK Associates Corp acquired a new position in Hims & Hers Health in the 2nd quarter worth about $111,000. Rhumbline Advisers raised its position in Hims & Hers Health by 50.1% in the second quarter. Rhumbline Advisers now owns 268,420 shares of the company’s stock valued at $5,419,000 after purchasing an additional 89,535 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Hims & Hers Health by 6.6% during the second quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock valued at $393,000 after purchasing an additional 1,212 shares in the last quarter. Institutional investors and hedge funds 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.