Hims & Hers Health (NYSE:HIMS) Downgraded by Bank of America to “Underperform”

Bank of America downgraded shares of Hims & Hers Health (NYSE:HIMS) from a buy rating to an underperform rating in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $18.00 price objective on the stock, down from their prior price objective of $32.00.

Several other research analysts also recently weighed in on HIMS. Needham & Company LLC initiated coverage on Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price on the stock. Canaccord Genuity Group lifted their price objective on shares of Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. TD Cowen upped their price objective on shares of Hims & Hers Health from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial increased their price target on shares of Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Price Performance

Shares of Hims & Hers Health stock opened at $19.32 on Thursday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 43.91 and a beta of 1.06. The firm’s fifty day simple moving average is $19.76 and its 200-day simple moving average is $18.92. Hims & Hers Health has a 12 month low of $7.40 and a 12 month high of $30.44.

Hims & Hers Health (NYSE:HIMS) last announced 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. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The business’s revenue was up 77.1% compared to the same quarter last year. Analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Oluyemi Okupe sold 269,739 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the completion of the transaction, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This trade represents a 64.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Soleil Boughton sold 2,345 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.65, for a total value of $34,354.25. Following the completion of the sale, the insider now directly owns 159,796 shares in the company, valued at approximately $2,341,011.40. The trade was a 1.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 996,961 shares of company stock worth $20,256,416 in the last quarter. Company insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Hims & Hers Health by 12.7% during the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after acquiring an additional 482,177 shares during the last quarter. Barclays PLC raised its stake in Hims & Hers Health by 9.7% in the 3rd quarter. Barclays PLC now owns 308,363 shares of the company’s stock valued at $5,680,000 after purchasing an additional 27,231 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Hims & Hers Health by 312.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 134,018 shares of the company’s stock valued at $2,469,000 after purchasing an additional 101,536 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Hims & Hers Health during the 3rd quarter worth about $197,000. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Hims & Hers Health during the third quarter worth about $672,000. 63.52% of the stock is owned by institutional investors and hedge funds.

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.