Hims & Hers Health (NYSE:HIMS) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of Hims & Hers Health (NYSE:HIMS) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

HIMS has been the topic of a number of other reports. UBS Group set a $32.00 price target on Hims & Hers Health in a research note on Tuesday, November 4th. Truist Financial reduced their target price on shares of Hims & Hers Health from $48.00 to $37.00 and set a “hold” rating for the company in a report on Monday, August 18th. KeyCorp started coverage on Hims & Hers Health in a report on Tuesday, October 21st. They set a “sector weight” rating on the stock. Bank of America upped their price target on Hims & Hers Health from $28.00 to $32.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hims & Hers Health in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.27.

Hims & Hers Health Trading Down 1.9%

NYSE HIMS opened at $39.27 on Thursday. The stock’s fifty day moving average price is $45.76 and its 200-day moving average price is $49.74. The stock has a market cap of $8.94 billion, a P/E ratio of 72.72, a P/E/G ratio of 7.75 and a beta of 2.41. Hims & Hers Health has a 12 month low of $23.97 and a 12 month high of $72.98. The company has a current ratio of 1.88, a quick ratio of 1.64 and a debt-to-equity ratio of 1.67.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $598.98 million for the quarter, compared to the consensus estimate of $578.99 million. Hims & Hers Health had a net margin of 6.05% and a return on equity of 24.67%. Hims & Hers Health’s revenue was up 49.2% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. As a group, equities analysts forecast that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Hims & Hers Health announced that its board has initiated a stock buyback program on Monday, November 17th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 13,749 shares of Hims & Hers Health stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $50.50, for a total transaction of $694,324.50. Following the completion of the sale, the insider directly owned 297,139 shares in the company, valued at approximately $15,005,519.50. This trade represents a 4.42% 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 this link. Also, CFO Oluyemi Okupe sold 145,000 shares of Hims & Hers Health stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $55.35, for a total transaction of $8,025,750.00. Following the sale, the chief financial officer directly owned 128,984 shares of the company’s stock, valued at $7,139,264.40. This represents a 52.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 616,431 shares of company stock worth $32,924,482 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Virtus Advisers LLC purchased a new position in Hims & Hers Health during the second quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in shares of Hims & Hers Health during the third quarter worth $28,000. Binnacle Investments Inc purchased a new stake in Hims & Hers Health during the 3rd quarter valued at about $28,000. Quaker Wealth Management LLC purchased a new position in shares of Hims & Hers Health in the second quarter worth about $29,000. Finally, Bessemer Group Inc. raised its position in Hims & Hers Health by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 607 shares of the company’s stock worth $30,000 after buying an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.