Morgan Stanley Initiates Coverage on Hims & Hers Health (NYSE:HIMS)

Equities research analysts at Morgan Stanley began coverage on shares of Hims & Hers Health (NYSE:HIMS) in a report issued on Tuesday,Benzinga reports. The brokerage set an “overweight” rating and a $42.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 34.46% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Needham & Company LLC initiated coverage on Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective for the company. Bank of America downgraded Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.80.

Hims & Hers Health Stock Up 4.0 %

NYSE HIMS opened at $31.24 on Tuesday. Hims & Hers Health has a fifty-two week low of $8.09 and a fifty-two week high of $35.02. The business has a 50 day moving average price of $25.02 and a two-hundred day moving average price of $21.06. The stock has a market cap of $6.82 billion, a PE ratio of 70.99 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results 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 business had revenue of $401.56 million during 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 revenue was up 77.1% on a year-over-year basis. During the same period last year, the business earned ($0.04) EPS. Sell-side analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Transactions at Hims & Hers Health

In other news, Director Anja Manuel bought 4,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $26.94 per share, for a total transaction of $107,760.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at $107,760. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 45,767 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $16.33, for a total transaction of $747,375.11. Following the sale, the chief executive officer now owns 67,015 shares in the company, valued at $1,094,354.95. This represents a 40.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,064,976 shares of company stock valued at $25,396,895 in the last quarter. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position 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 worth $37,000 after purchasing an additional 1,603 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Hims & Hers Health by 5,944.1% during the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after buying an additional 3,507 shares during the period. CWM LLC grew its holdings in shares of Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after acquiring an additional 1,054 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Hims & Hers Health in the second quarter worth $111,000. Finally, Quarry LP raised its holdings in shares of Hims & Hers Health by 91.0% during the third quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after acquiring an additional 2,913 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other 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.