Morgan Stanley Downgrades Hims & Hers Health (NYSE:HIMS) to Equal Weight

Morgan Stanley downgraded shares of Hims & Hers Health (NYSE:HIMS) from an overweight rating to an equal weight rating in a research note published on Tuesday morning, Marketbeat.com reports. Morgan Stanley currently has $60.00 price objective on the stock, up from their prior price objective of $42.00.

Several other equities research analysts have also weighed in on HIMS. Citigroup lowered Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $24.00 to $25.00 in a report on Friday, January 10th. BTIG Research started coverage on Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. TD Cowen reissued a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Needham & Company LLC lifted their price objective on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.53.

Hims & Hers Health Trading Down 3.6 %

Shares of NYSE:HIMS opened at $66.28 on Tuesday. The stock’s fifty day simple moving average is $34.66 and its two-hundred day simple moving average is $25.48. Hims & Hers Health has a 1-year low of $9.22 and a 1-year high of $72.98. The stock has a market cap of $14.48 billion, a PE ratio of 150.64 and a beta of 1.35.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, COO Melissa Baird sold 85,561 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $31.01, for a total transaction of $2,653,246.61. Following the transaction, the chief operating officer now owns 630,986 shares of the company’s stock, valued at approximately $19,566,875.86. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 33,513 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,184,611 shares of company stock worth $40,338,442 over the last three months. 17.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC purchased a new stake in shares of Hims & Hers Health in the 4th quarter valued at $28,000. Raleigh Capital Management Inc. raised its holdings in shares of Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,100 shares during the period. Blume Capital Management Inc. raised its holdings in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 600 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after buying an additional 1,413 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Hims & Hers Health in the 4th quarter valued at $38,000. Hedge funds and other 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.