Hims & Hers Health (NYSE:HIMS) Earns Buy Rating from TD Cowen

Hims & Hers Health (NYSE:HIMS)‘s stock had its “buy” rating restated by TD Cowen in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $28.00 price objective on the stock. TD Cowen’s price objective would suggest a potential upside of 25.84% from the stock’s current price.

Several other analysts also recently weighed in on HIMS. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Needham & Company LLC initiated coverage on Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target on the stock. Piper Sandler restated a “neutral” rating and set a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group increased their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.71.

Hims & Hers Health Stock Down 5.4 %

Hims & Hers Health stock traded down $1.28 during mid-day trading on Wednesday, reaching $22.25. 5,468,406 shares of the company’s stock were exchanged, compared to its average volume of 9,366,088. The company has a fifty day moving average of $20.08 and a 200-day moving average of $19.07. The company has a market cap of $4.86 billion, a P/E ratio of 50.75 and a beta of 1.06. Hims & Hers Health has a twelve month low of $7.51 and a twelve month high of $30.44.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.06 by $0.26. The firm had revenue of $401.56 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted ($0.04) earnings per share. Equities research analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christiane Pendarvis sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $15.15, for a total transaction of $106,050.00. Following the completion of the transaction, the director now directly owns 23,917 shares of the company’s stock, valued at approximately $362,342.55. This represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 2,345 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.65, for a total value of $34,354.25. Following the completion of the sale, the insider now directly owns 159,796 shares in the company, valued at $2,341,011.40. This represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,056,183 shares of company stock worth $21,501,682. 17.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after buying an additional 1,603 shares during the period. Quest Partners LLC raised its position in shares of Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Hims & Hers Health during the second quarter worth $111,000. CWM LLC boosted its position in shares of Hims & Hers Health by 21.4% in the 3rd 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 period. Finally, Quarry LP increased its stake in Hims & Hers Health by 91.0% in the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after purchasing an additional 2,913 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors.

About Hims & Hers Health

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.