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

BTIG Research initiated coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued a buy rating and a $35.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC upped their price objective on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their price target for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. TD Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Morgan Stanley assumed coverage on Hims & Hers Health in a report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 target price for the company. Finally, Piper Sandler raised their price target on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.80.

Hims & Hers Health Stock Up 2.6 %

NYSE HIMS opened at $27.61 on Tuesday. The stock’s 50-day simple moving average is $26.84 and its two-hundred day simple moving average is $21.57. Hims & Hers Health has a twelve month low of $8.14 and a twelve month high of $35.02. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 62.75 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Hims & Hers Health’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) EPS. On average, equities analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the transaction, the chief executive officer now owns 67,015 shares in the company, valued at approximately $1,399,273.20. This represents a 73.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the transaction, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,333,446 shares of company stock worth $34,175,197. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently modified their holdings of the business. Quest Partners LLC boosted its position 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 worth $81,000 after purchasing an additional 807 shares in the last quarter. CWM LLC boosted its holdings in Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Hims & Hers Health by 3.0% in the second quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock worth $815,000 after acquiring an additional 1,173 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Hims & Hers Health by 6.6% in the second quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after acquiring an additional 1,212 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Hims & Hers Health by 5.8% during the third quarter. Rockefeller Capital Management L.P. now owns 33,775 shares of the company’s stock valued at $622,000 after acquiring an additional 1,864 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 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.