Hims & Hers Health (NYSE:HIMS) Coverage Initiated at Morgan Stanley

Morgan Stanley began coverage on shares of Hims & Hers Health (NYSE:HIMS) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $42.00 target price on the stock.

HIMS has been the subject of several other reports. TD Cowen restated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Needham & Company LLC started coverage on shares of 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. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their target price for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Piper Sandler restated a “neutral” rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Hold” and an average price target of $22.80.

Hims & Hers Health Stock Down 7.7 %

Shares of HIMS opened at $26.36 on Tuesday. The firm’s fifty day moving average is $25.63 and its two-hundred day moving average is $21.23. The stock has a market cap of $5.76 billion, a PE ratio of 59.91 and a beta of 1.25. Hims & Hers Health has a 52-week low of $8.09 and a 52-week high of $35.02.

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

Insider Activity

In related news, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.41, for a total value of $47,738.99. Following the completion of the transaction, the insider now directly owns 172,274 shares in the company, valued at approximately $3,516,112.34. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Melissa Baird sold 58,750 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $19.57, for a total value of $1,149,737.50. Following the transaction, the chief operating officer now directly owns 630,166 shares of the company’s stock, valued at $12,332,348.62. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,085,157 shares of company stock valued at $26,765,193. 17.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

A number of large investors have recently made changes to their positions in the company. Quest Partners LLC grew its holdings in Hims & Hers Health by 22.6% during the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after acquiring an additional 807 shares in the last quarter. CWM LLC grew its stake in shares of Hims & Hers Health by 21.4% during 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 grew its stake in shares of Hims & Hers Health by 3.0% during the second quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock worth $815,000 after purchasing an additional 1,173 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Hims & Hers Health by 6.6% in the second quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock valued at $393,000 after buying an additional 1,212 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after buying an additional 1,603 shares in the last quarter. 63.52% of the stock is currently 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.