Bank of America Cuts Hims & Hers Health (NYSE:HIMS) Price Target to $25.00

Key Points

• Bank of America lowered its price target on Hims & Hers Health to $25 from $28 while keeping a neutral rating. The new target still implies modest upside from the stock’s prior close.
• Analyst sentiment remains mixed overall, with an average Hold rating and consensus price target of $28.70 across coverage. Other firms recently made varied moves, including target increases, cuts, and hold calls.
• The company recently missed earnings expectations, reporting a loss of $0.40 per share versus estimates for a small profit, while revenue of $608.1 million also came in slightly below forecasts. The stock was trading around $23.70 on Tuesday, well below its 52-week high.

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its price objective cut by equities researchers at Bank of America from $28.00 to $25.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Bank of America's target price suggests a potential upside of 5.49% from the stock's previous close.

A number of other research firms have also issued reports on HIMS. Leerink Partners boosted their target price on shares of Hims & Hers Health from $17.50 to $25.00 and gave the company a "market perform" rating in a research note on Monday, March 16th. JPMorgan Chase & Co. reduced their target price on shares of Hims & Hers Health from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, May 12th. UBS Group set a $23.00 target price on shares of Hims & Hers Health in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $25.00 price target on shares of Hims & Hers Health in a research report on Tuesday, May 5th. Finally, Truist Financial boosted their price target on shares of Hims & Hers Health from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $28.70.

Hims & Hers Health Stock Performance

Hims & Hers Health stock traded down $0.05 during midday trading on Tuesday, reaching $23.70. 10,354,683 shares of the stock traded hands, compared to its average volume of 32,232,939. The company has a current ratio of 1.69, a quick ratio of 1.56 and a debt-to-equity ratio of 2.18. The firm has a fifty day moving average price of $24.03 and a two-hundred day moving average price of $27.85. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of -263.33, a PEG ratio of 46.09 and a beta of 2.43. Hims & Hers Health has a fifty-two week low of $13.74 and a fifty-two week high of $70.43.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.44). The firm had revenue of $608.10 million for the quarter, compared to analyst estimates of $616.84 million. Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, equities research analysts forecast that Hims & Hers Health will post 0.04 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 7,950 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $23.64, for a total transaction of $187,938.00. Following the sale, the chief financial officer directly owned 262,954 shares in the company, valued at approximately $6,216,232.56. The trade was a 2.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Irene Becklund sold 5,529 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $24.69, for a total transaction of $136,511.01. Following the sale, the insider owned 8,752 shares in the company, valued at $216,086.88. This trade represents a 38.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 212,807 shares of company stock valued at $5,473,644 over the last quarter. Corporate insiders own 11.76% of the company's stock.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMS. Flagship Harbor Advisors LLC bought a new stake in shares of Hims & Hers Health in the 4th quarter worth approximately $28,000. Binnacle Investments Inc bought a new stake in shares of Hims & Hers Health in the 3rd quarter worth approximately $28,000. Bogart Wealth LLC raised its holdings in shares of Hims & Hers Health by 235.8% in the 4th quarter. Bogart Wealth LLC now owns 900 shares of the company's stock worth $29,000 after purchasing an additional 632 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Hims & Hers Health in the 1st quarter worth approximately $30,000. Finally, Greenline Wealth Management LLC bought a new stake in shares of Hims & Hers Health in the 4th quarter worth approximately $36,000. 63.52% of the stock is currently owned by institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients' doorsteps.

The company's product portfolio addresses key areas of men's and women's health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.

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