Hims & Hers Health (NYSE:HIMS) Receives “Buy” Rating from Needham & Company LLC

Hims & Hers Health (NYSE:HIMS)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $61.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 45.45% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup cut their price target on Hims & Hers Health from $27.00 to $25.00 and set a “sell” rating on the stock in a report on Friday, April 25th. Bank of America increased their price objective on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 29th. BTIG Research started coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. TD Cowen lowered Hims & Hers Health from a “buy” rating to a “hold” rating and cut their price target for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Finally, Morgan Stanley decreased their price objective on Hims & Hers Health from $60.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.92.

Hims & Hers Health Stock Up 2.7 %

Shares of Hims & Hers Health stock opened at $41.94 on Tuesday. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 95.32 and a beta of 1.84. Hims & Hers Health has a twelve month low of $11.45 and a twelve month high of $72.98. The company’s fifty day moving average is $32.22 and its 200 day moving average is $31.70.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business’s revenue was up 110.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. As a group, equities analysts anticipate 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 related news, insider Soleil Boughton sold 3,236 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.19, for a total value of $97,694.84. Following the transaction, the insider now owns 159,662 shares in the company, valued at approximately $4,820,195.78. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Dudum sold 128,127 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the completion of the sale, the chief executive officer now directly owns 97,687 shares of the company’s stock, valued at $5,692,221.49. This represents a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 650,500 shares of company stock worth $25,790,311 in the last quarter. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HIMS. Farallon Capital Management LLC boosted its holdings in Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after buying an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Hims & Hers Health by 192.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after acquiring an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after acquiring an additional 2,020,722 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new position in shares of Hims & Hers Health in the fourth quarter worth $41,104,000. Finally, Renaissance Technologies LLC grew its position in shares of Hims & Hers Health by 29.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock valued at $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.