Hims & Hers Health (NYSE:HIMS) Downgraded by Citigroup to “Sell”

Hims & Hers Health (NYSE:HIMS) was downgraded by analysts at Citigroup from a “neutral” rating to a “sell” rating in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $25.00 price objective on the stock, up from their prior price objective of $24.00. Citigroup’s price target would suggest a potential downside of 2.87% from the stock’s previous close.

A number of other research analysts also recently issued reports on HIMS. Piper Sandler raised their price target on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday. BTIG Research initiated coverage on Hims & Hers Health in a research report on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. Morgan Stanley began coverage on Hims & Hers Health in a research report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price objective for the company. Canaccord Genuity Group increased their target price on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC boosted their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $25.13.

Hims & Hers Health Stock Down 7.0 %

Shares of Hims & Hers Health stock opened at $25.74 on Friday. The business has a 50-day moving average price of $27.11 and a 200 day moving average price of $21.62. Hims & Hers Health has a fifty-two week low of $8.14 and a fifty-two week high of $35.02. The firm has a market cap of $5.62 billion, a P/E ratio of 58.50 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last issued 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. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. During the same period in the previous year, the business earned ($0.04) EPS. The business’s quarterly revenue was up 77.1% on a year-over-year basis. As a group, equities research analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other news, insider Michael Chi sold 17,303 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $27.97, for a total transaction of $483,964.91. Following the completion of the transaction, the insider now owns 193,601 shares in the company, valued at approximately $5,415,019.97. This trade represents a 8.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $20.41, for a total transaction of $47,738.99. Following the completion of the transaction, the insider now directly owns 172,274 shares in the company, valued at $3,516,112.34. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,333,446 shares of company stock worth $34,175,197 over the last quarter. 17.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

A number of large investors have recently added to or reduced their stakes in HIMS. Renaissance Technologies LLC lifted its position in shares of Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after acquiring an additional 3,205,108 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Hims & Hers Health by 34.5% during the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after purchasing an additional 883,230 shares during the period. Geode Capital Management LLC boosted its position in shares of Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after purchasing an additional 482,177 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Hims & Hers Health by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after purchasing an additional 328,142 shares in the last quarter. Finally, Carnegie Investment Counsel acquired a new stake in Hims & Hers Health during the 3rd quarter worth about $5,531,000. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Company Profile

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.