BTIG Research Initiates Coverage on Hims & Hers Health (NYSE:HIMS)

Research analysts at BTIG Research began coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research report issued 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 target price suggests a potential upside of 30.50% from the company’s current price.

Several other equities research analysts have also issued reports on HIMS. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Morgan Stanley assumed coverage on Hims & Hers Health in a report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. TD Cowen reissued a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group upped their price objective on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.80.

Hims & Hers Health Trading Up 0.7 %

Shares of Hims & Hers Health stock opened at $26.82 on Tuesday. Hims & Hers Health has a 1-year low of $8.14 and a 1-year high of $35.02. The firm has a fifty day simple moving average of $26.73 and a 200-day simple moving average of $21.53. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 60.96 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. As a group, research analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total value of $3,943,981.44. Following the sale, the chief executive officer now directly owns 67,015 shares in the company, valued at approximately $1,399,273.20. This trade represents a 73.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the completion of the sale, the chief financial officer now owns 145,763 shares of the company’s stock, valued at approximately $2,960,446.53. This represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,064,514 shares of company stock worth $26,712,334 over the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew 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 position in shares of Hims & Hers Health during the 2nd quarter worth approximately $479,000. Van ECK Associates Corp acquired a new stake in shares of Hims & Hers Health in the second quarter valued at approximately $111,000. Rhumbline Advisers lifted its position in shares of Hims & Hers Health by 50.1% in the second quarter. Rhumbline Advisers now owns 268,420 shares of the company’s stock worth $5,419,000 after purchasing an additional 89,535 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Hims & Hers Health by 6.6% during the second 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. Institutional investors own 63.52% of the company’s stock.

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.