Hims & Hers Health (NYSE:HIMS) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Hims & Hers Health (NYSE:HIMS) from a hold rating to a buy rating in a research note published on Sunday.

A number of other equities analysts have also recently weighed in on the company. TD Cowen cut Hims & Hers Health from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Truist Financial decreased their price target on Hims & Hers Health from $39.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Citigroup restated a “sell” rating and issued a $30.00 price target (up previously from $25.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Morgan Stanley restated an “equal weight” rating and issued a $40.00 price target on shares of Hims & Hers Health in a report on Wednesday, June 11th. Finally, UBS Group restated a “mixed” rating on shares of Hims & Hers Health in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Hims & Hers Health currently has an average rating of “Hold” and an average price target of $38.00.

Hims & Hers Health Price Performance

Shares of NYSE HIMS opened at $55.33 on Friday. Hims & Hers Health has a 12-month low of $13.47 and a 12-month high of $72.98. The company has a market capitalization of $12.38 billion, a PE ratio of 125.75 and a beta of 2.09. The firm’s 50-day moving average is $45.09 and its two-hundred day moving average is $38.26.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $586.01 million for the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s quarterly revenue was up 110.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, analysts forecast that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, insider Patrick Harrison Carroll sold 23,287 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total value of $798,976.97. Following the sale, the insider now directly owns 209,661 shares of the company’s stock, valued at $7,193,468.91. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Dudum sold 36,460 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $28.04, for a total value of $1,022,338.40. Following the completion of the sale, the chief executive officer now directly owns 92,103 shares in the company, valued at $2,582,568.12. This represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 499,940 shares of company stock worth $21,478,932 over the last ninety days. 13.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

Large investors have recently added to or reduced their stakes in the stock. Blume Capital Management Inc. increased its position in Hims & Hers Health by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 600 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Hims & Hers Health during the first quarter valued at $30,000. Smartleaf Asset Management LLC increased its holdings in shares of Hims & Hers Health by 4,415.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after purchasing an additional 1,413 shares during the period. Summit Securities Group LLC acquired a new position in shares of Hims & Hers Health during the fourth quarter valued at $38,000. Finally, UMB Bank n.a. increased its holdings in shares of Hims & Hers Health by 247.5% during the first quarter. UMB Bank n.a. now owns 1,310 shares of the company’s stock valued at $39,000 after purchasing an additional 933 shares during the period. 63.52% of the stock is owned by institutional investors and hedge funds.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.