Hims & Hers Health (NYSE:HIMS) Cut to “Underperform” at Bank of America

Hims & Hers Health (NYSE:HIMS) was downgraded by stock analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $18.00 price objective on the stock, down from their prior price objective of $32.00. Bank of America‘s price target indicates a potential downside of 7.02% from the company’s current price.

Several other equities analysts have also recently commented on HIMS. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Canaccord Genuity Group upped their target price on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial lifted their price target on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, 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 objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus price target of $20.71.

Hims & Hers Health Price Performance

Hims & Hers Health stock opened at $19.36 on Thursday. The firm has a market cap of $4.16 billion, a PE ratio of 44.00 and a beta of 1.06. The stock’s fifty day moving average price is $19.76 and its two-hundred day moving average price is $18.83. Hims & Hers Health has a one year low of $7.40 and a one year high of $30.44.

Hims & Hers Health (NYSE:HIMS) last released its 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 return on equity of 10.97% and a net margin of 8.19%. Hims & Hers Health’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. Sell-side analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 142,886 shares of Hims & Hers Health stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.93, for a total transaction of $4,276,577.98. Following the transaction, the chief financial officer now directly owns 112,186 shares of the company’s stock, valued at approximately $3,357,726.98. The trade was a 56.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the completion of the sale, the chief executive officer now owns 33,502 shares in the company, valued at $487,789.12. This trade represents a 84.94 % 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 worth $20,256,416 in the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC boosted its position in shares of Hims & Hers Health by 22.6% during the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after purchasing an additional 807 shares in the last quarter. CWM LLC increased 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 purchasing an additional 1,054 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Hims & Hers Health by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock worth $815,000 after buying an additional 1,173 shares in the last quarter. Victory Capital Management Inc. boosted its holdings 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 buying an additional 1,212 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position 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 buying an additional 1,603 shares during the period. 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.