Hims & Hers Health’s (HIMS) Buy Rating Reaffirmed at TD Cowen

TD Cowen restated their buy rating on shares of Hims & Hers Health (NYSE:HIMS) in a research report released on Wednesday morning,Benzinga reports. They currently have a $28.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. 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 price target for the company. Canaccord Genuity Group upped their target price on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Price Performance

Shares of HIMS opened at $25.33 on Wednesday. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 57.57 and a beta of 1.06. Hims & Hers Health has a fifty-two week low of $8.02 and a fifty-two week high of $30.44. The business’s 50-day moving average is $20.55 and its 200-day moving average is $19.26.

Hims & Hers Health (NYSE:HIMS) last issued its 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. The company 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 firm’s quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Equities research analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at approximately $487,789.12. The trade was a 84.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christiane Pendarvis sold 7,000 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $15.15, for a total value of $106,050.00. Following the transaction, the director now owns 23,917 shares of the company’s stock, valued at $362,342.55. This represents a 22.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,056,183 shares of company stock worth $21,501,682. 17.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in Hims & Hers Health by 113.1% in 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 in the last quarter. Farallon Capital Management LLC raised its holdings in Hims & Hers Health by 3,890.5% in the 1st quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after acquiring an additional 1,634,000 shares in the last quarter. Wellington Management Group LLP raised its holdings in Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after acquiring an additional 883,230 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 482,177 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings 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 valued at $10,663,000 after acquiring an additional 328,142 shares in the last quarter. 63.52% of the stock is currently owned by 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.