TD Cowen Reaffirms Buy Rating for Hims & Hers Health (NYSE:HIMS)

Hims & Hers Health (NYSE:HIMS)‘s stock had its “buy” rating restated by equities research analysts at TD Cowen in a report issued on Wednesday,Benzinga reports. They currently have a $28.00 price target on the stock. TD Cowen’s price target points to a potential upside of 25.84% from the stock’s previous close.

Several other research firms have also issued reports on HIMS. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. 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 report on Tuesday, November 5th. Needham & Company LLC started coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price for the company. Finally, Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.71.

Hims & Hers Health Stock Down 5.4 %

Shares of HIMS traded down $1.28 during trading hours on Wednesday, reaching $22.25. The company’s stock had a trading volume of 5,468,406 shares, compared to its average volume of 9,366,088. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 50.75 and a beta of 1.06. The company has a 50 day moving average of $20.08 and a two-hundred day moving average of $19.07. Hims & Hers Health has a 1-year low of $7.51 and a 1-year high of $30.44.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The firm had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, analysts forecast that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.56, for a total transaction 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. The trade was a 84.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Oluyemi Okupe sold 269,739 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the transaction, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. This represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,056,183 shares of company stock valued at $21,501,682. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Sei Investments Co. raised its holdings in Hims & Hers Health by 206.9% during the 1st quarter. Sei Investments Co. now owns 56,202 shares of the company’s stock worth $869,000 after buying an additional 37,890 shares during the period. Avantax Advisory Services Inc. bought a new stake in Hims & Hers Health in the 1st quarter valued at $156,000. ProShare Advisors LLC boosted its stake in Hims & Hers Health by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 22,257 shares of the company’s stock worth $344,000 after purchasing an additional 2,023 shares during the period. Vanguard Group Inc. raised its stake in shares of Hims & Hers Health by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock valued at $221,379,000 after purchasing an additional 136,907 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Hims & Hers Health in the 1st quarter valued at about $1,925,000. Institutional investors own 63.52% of the company’s stock.

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.