BTIG Research Initiates Coverage on Hims & Hers Health (NYSE:HIMS)

Analysts at BTIG Research assumed coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $35.00 price target on the stock. BTIG Research’s price target would indicate a potential upside of 35.98% from the stock’s previous close.

Several other research analysts have also commented on HIMS. Canaccord Genuity Group lifted their price target on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Morgan Stanley began coverage on shares of Hims & Hers Health in a report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price on the stock. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their price target for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. TD Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Piper Sandler raised their target price on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.80.

Hims & Hers Health Trading Down 7.0 %

NYSE:HIMS opened at $25.74 on Tuesday. The company has a market cap of $5.62 billion, a P/E ratio of 58.50 and a beta of 1.31. Hims & Hers Health has a twelve month low of $8.14 and a twelve month high of $35.02. The company’s 50-day moving average price is $26.97 and its 200-day moving average price is $21.59.

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, topping the consensus estimate 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 analysts’ expectations of $382.20 million. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Oluyemi Okupe sold 4,213 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $29.98, for a total transaction of $126,305.74. Following the sale, the chief financial officer now directly owns 128,365 shares in the company, valued at approximately $3,848,382.70. This represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Soleil Boughton sold 268,932 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the sale, the insider now owns 169,803 shares in the company, valued at $4,712,033.25. The trade was a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,333,446 shares of company stock worth $34,175,197 in the last ninety days. 17.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of 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 during the last quarter. Wellington Management Group LLP raised its holdings in 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after buying an additional 482,177 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of 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 buying 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 $5,531,000. Hedge funds and other institutional investors 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.