Hims & Hers Health (NYSE:HIMS) Stock Rating Lowered by Bank of America

Bank of America downgraded shares of Hims & Hers Health (NYSE:HIMS) from a buy rating to an underperform rating in a report issued on Thursday morning, MarketBeat.com reports. The firm currently has $18.00 target price on the stock, down from their prior target price of $32.00.

Other equities research analysts have also issued reports about the company. Needham & Company LLC initiated coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They set 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. Deutsche Bank Aktiengesellschaft lifted their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price objective on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, TD Cowen boosted their target price on shares of Hims & Hers Health from $25.00 to $28.00 and gave the stock 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 given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Stock Performance

Shares of NYSE HIMS opened at $19.32 on Thursday. Hims & Hers Health has a 52-week low of $7.40 and a 52-week high of $30.44. The business has a fifty day moving average of $19.76 and a two-hundred day moving average of $18.87. The stock has a market cap of $4.15 billion, a PE ratio of 43.91 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.26. The firm 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%. The firm’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. Analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Activity

In related news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $487,789.12. This trade represents a 84.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 142,886 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.93, for a total transaction of $4,276,577.98. Following the completion of the sale, the chief financial officer now directly owns 112,186 shares of the company’s stock, valued at $3,357,726.98. The trade was a 56.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 996,961 shares of company stock valued at $20,256,416 in the last 90 days. 17.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMS. Quest Partners LLC grew its holdings in shares of Hims & Hers Health by 22.6% in the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after acquiring an additional 807 shares in the last quarter. CWM LLC boosted its position in Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the last quarter. Arizona State Retirement System grew its stake in Hims & Hers Health by 3.0% in the second quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock valued at $815,000 after purchasing an additional 1,173 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Hims & Hers Health by 6.6% during the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after purchasing an additional 1,603 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Company Profile

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.