Morgan Stanley Issues Pessimistic Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Hims & Hers Health (NYSE:HIMS - Free Report) had its price target reduced by Morgan Stanley from $60.00 to $40.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently commented on the stock. Citigroup lowered their price target on shares of Hims & Hers Health from $27.00 to $25.00 and set a "sell" rating for the company in a report on Friday, April 25th. Needham & Company LLC boosted their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Canaccord Genuity Group raised their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Piper Sandler raised their price objective on Hims & Hers Health from $24.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Finally, Truist Financial lowered their price target on Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of "Hold" and a consensus target price of $36.92.

Hims & Hers Health Stock Up 10.0 %

Shares of NYSE HIMS traded up $3.29 during midday trading on Tuesday, hitting $36.39. The company had a trading volume of 42,647,739 shares, compared to its average volume of 16,609,137. The business has a 50-day simple moving average of $32.19 and a two-hundred day simple moving average of $31.30. Hims & Hers Health has a twelve month low of $11.20 and a twelve month high of $72.98. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 82.72 and a beta of 1.65.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. On average, equities analysts forecast that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Hims & Hers Health news, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the transaction, the chief executive officer now owns 97,687 shares in the company, valued at approximately $5,692,221.49. The trade was a 56.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 11,581 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $38.92, for a total value of $450,732.52. Following the sale, the chief financial officer now directly owns 112,933 shares of the company's stock, valued at approximately $4,395,352.36. This represents a 9.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 766,234 shares of company stock valued at $29,909,645 over the last 90 days. 17.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in Hims & Hers Health by 20.0% in the first quarter. Allworth Financial LP now owns 2,006 shares of the company's stock worth $56,000 after purchasing an additional 334 shares in the last quarter. SlateStone Wealth LLC boosted its stake in Hims & Hers Health by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock worth $257,000 after buying an additional 413 shares in the last quarter. Blume Capital Management Inc. grew its stake in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 600 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Hims & Hers Health by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company's stock worth $480,000 after purchasing an additional 628 shares during the last quarter. Finally, Cim LLC grew its position in Hims & Hers Health by 1.0% during the 4th quarter. Cim LLC now owns 71,869 shares of the company's stock worth $1,738,000 after acquiring an additional 694 shares during the last quarter. Hedge funds and other institutional investors 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.