Hims & Hers Health (NYSE:HIMS) Downgraded by Wall Street Zen to Hold

Key Points

• Hims & Hers Health was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, with other analysts also adjusting their ratings and target prices.
• The company's recent earnings report showed a EPS of $0.20, surpassing expectations, and revenue of $586.01 million, reflecting a year-over-year increase of 110.7%.
• Insider sales have occurred recently, with key executives selling significant shares, indicating a decrease in their ownership percentages.

Hims & Hers Health (NYSE:HIMS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Monday.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Citigroup reaffirmed a "sell" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Morgan Stanley reissued an "equal weight" rating and issued a $40.00 price target on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Truist Financial increased their target price on shares of Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Price Performance

Shares of HIMS traded up $3.65 during trading hours on Monday, reaching $69.18. 13,990,678 shares of the company's stock traded hands, compared to its average volume of 33,725,934. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 99.97, a P/E/G ratio of 2.22 and a beta of 2.02. The business's fifty day simple moving average is $53.21 and its two-hundred day simple moving average is $43.51. Hims & Hers Health has a twelve month low of $13.47 and a twelve month high of $72.98.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. The business had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The business's revenue for the quarter was up 110.7% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, equities research analysts expect that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 23,107 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $47.25, for a total value of $1,091,805.75. Following the sale, the chief financial officer owned 63,222 shares of the company's stock, valued at $2,987,239.50. The trade was a 26.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $56.76, for a total transaction of $7,272,488.52. Following the completion of the transaction, the chief executive officer owned 160,215 shares of the company's stock, valued at approximately $9,093,803.40. This represents a 44.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 737,704 shares of company stock valued at $40,644,035. Insiders own 13.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hims & Hers Health in the 2nd quarter valued at approximately $1,440,000. First Citizens Bank & Trust Co. acquired a new position in Hims & Hers Health during the second quarter worth $571,000. Bleakley Financial Group LLC acquired a new stake in shares of Hims & Hers Health in the 2nd quarter valued at $1,918,000. Freedom Investment Management Inc. grew its holdings in shares of Hims & Hers Health by 58.4% in the 2nd quarter. Freedom Investment Management Inc. now owns 20,384 shares of the company's stock worth $1,016,000 after purchasing an additional 7,514 shares during the last quarter. Finally, Forum Financial Management LP acquired a new stake in shares of Hims & Hers Health during the 2nd quarter worth about $401,000. 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 consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.