Hims & Hers Health (NYSE:HIMS) Cut to "Hold" at Wall Street Zen

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 stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Monday.

A number of other equities analysts have also recently issued reports on the company. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and decreased their target price for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Piper Sandler reiterated a "neutral" rating and issued a $39.00 price target (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Bank of America boosted their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Finally, Citigroup reissued a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $39.83.

Hims & Hers Health Price Performance

Shares of Hims & Hers Health stock opened at $57.50 on Monday. Hims & Hers Health has a 1-year low of $13.47 and a 1-year high of $72.98. The business's fifty day moving average price is $53.15 and its two-hundred day moving average price is $43.00. The company has a market capitalization of $12.87 billion, a P/E ratio of 83.33, a PEG ratio of 2.13 and a beta of 2.02.

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

Insider Buying and Selling at Hims & Hers Health

In other news, insider Soleil Boughton sold 2,572 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $47.82, for a total value of $122,993.04. Following the sale, the insider owned 158,165 shares of the company's stock, valued at approximately $7,563,450.30. This represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Oluyemi Okupe sold 11,581 shares of Hims & Hers Health stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $47.70, for a total transaction of $552,413.70. Following the transaction, the chief financial officer directly owned 54,084 shares of the company's stock, valued at $2,579,806.80. This represents a 17.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 785,132 shares of company stock worth $42,312,559. Insiders own 17.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Farallon Capital Management LLC boosted its position in Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after buying an additional 8,364,000 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Hims & Hers Health by 192.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock valued at $152,436,000 after acquiring an additional 4,145,305 shares during the period. Vanguard Group Inc. boosted its holdings in Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after acquiring an additional 2,020,722 shares during the last quarter. Nuveen LLC acquired a new stake in Hims & Hers Health in the first quarter worth about $58,403,000. Finally, Renaissance Technologies LLC raised its holdings in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock worth $168,079,000 after purchasing an additional 1,562,302 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

About Hims & Hers Health

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.

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