Hims & Hers Health (NYSE:HIMS) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research report sent to investors on Tuesday, MarketBeat reports. The brokerage issued an overweight rating and a $42.00 price objective on the stock.

A number of other analysts have also weighed in on the company. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their target price for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price on the stock. Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hims & Hers Health has a consensus rating of “Hold” and an average target price of $22.80.

Hims & Hers Health Trading Down 0.4 %

Shares of Hims & Hers Health stock opened at $31.12 on Tuesday. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 70.73 and a beta of 1.25. The firm’s 50-day moving average price is $25.27 and its two-hundred day moving average price is $21.14. Hims & Hers Health has a 1-year low of $8.09 and a 1-year high of $35.02.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $382.20 million. During the same period in the prior year, the company earned ($0.04) EPS. Hims & Hers Health’s revenue for the quarter was up 77.1% on a year-over-year basis. As a group, equities research analysts predict that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, CEO Andrew Dudum sold 45,767 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $16.33, for a total value of $747,375.11. Following the completion of the transaction, the chief executive officer now directly owns 67,015 shares in the company, valued at approximately $1,094,354.95. The trade was a 40.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 172,274 shares of the company’s stock, valued at approximately $3,516,112.34. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,143,575 shares of company stock valued at $27,724,979 in the last 90 days. 17.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC boosted its stake in Hims & Hers Health by 22.6% in the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after purchasing an additional 807 shares during the period. CWM LLC boosted its position 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 buying an additional 1,054 shares during the period. Arizona State Retirement System grew its holdings 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 buying an additional 1,173 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hims & Hers Health by 6.6% during the second quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after buying an additional 1,212 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Hims & Hers Health by 679.2% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.