Hims & Hers Health (NYSE:HIMS) Price Target Raised to $23.00

Key Points

• Truist Financial raised its price target on Hims & Hers Health from $18 to $23, while keeping a hold rating. The new target still implies a slight downside from the current share price.
• The stock was down 0.9% to $23.78 on Friday, and analyst sentiment remains mixed: the consensus rating is Hold with an average target price of $29.70.
• Hims & Hers recently reported Q1 earnings that missed expectations, with EPS of -$0.40 versus a $0.04 estimate and revenue of $608.1 million versus $616.84 million expected. Insiders have also sold shares in recent months, adding to investor attention on the name.

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its target price raised by research analysts at Truist Financial from $18.00 to $23.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective would suggest a potential downside of 3.29% from the company's current price.

A number of other analysts have also weighed in on HIMS. TD Cowen cut their target price on shares of Hims & Hers Health from $25.00 to $23.00 and set a "hold" rating on the stock in a research note on Friday, March 27th. Barclays upped their target price on shares of Hims & Hers Health from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 11th. Zacks Research upgraded shares of Hims & Hers Health from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 25th. Wall Street Zen lowered shares of Hims & Hers Health from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $25.00 target price on shares of Hims & Hers Health in a research note on Tuesday, May 5th. Four 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $29.70.

Hims & Hers Health Trading Down 0.9%

NYSE:HIMS traded down $0.23 on Friday, reaching $23.78. 5,789,593 shares of the company's stock were exchanged, compared to its average volume of 32,364,117. The company has a quick ratio of 1.56, a current ratio of 1.69 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of -264.06, a price-to-earnings-growth ratio of 21.68 and a beta of 2.43. The business has a fifty day moving average of $24.08 and a 200-day moving average of $28.13. Hims & Hers Health has a 52-week low of $13.74 and a 52-week high of $70.43.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly 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 business had revenue of $608.10 million for the quarter, compared to analysts' expectations of $616.84 million. Hims & Hers Health had a positive return on equity of 6.10% and a negative net margin of 0.56%.The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. As a group, analysts expect that Hims & Hers Health will post 0.08 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Irene Becklund sold 5,529 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total value of $136,511.01. Following the transaction, the insider directly owned 8,752 shares in the company, valued at $216,086.88. This represents a 38.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Chi sold 97,289 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total transaction of $2,402,065.41. Following the completion of the transaction, the chief operating officer owned 407,282 shares in the company, valued at $10,055,792.58. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 212,807 shares of company stock valued at $5,473,644. Company insiders own 11.76% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

Hedge funds have recently added to or reduced their stakes in the stock. Pathway Capital Management LP purchased a new position in Hims & Hers Health in the third quarter valued at approximately $6,766,000. Steadview Capital Management LLC increased its stake in Hims & Hers Health by 80.0% in the third quarter. Steadview Capital Management LLC now owns 701,845 shares of the company's stock valued at $39,809,000 after purchasing an additional 311,845 shares during the last quarter. Farallon Capital Management LLC increased its stake in Hims & Hers Health by 30.8% in the third quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company's stock valued at $609,561,000 after purchasing an additional 2,533,271 shares during the last quarter. BIT Capital GmbH boosted its holdings in shares of Hims & Hers Health by 73.8% in the third quarter. BIT Capital GmbH now owns 2,210,384 shares of the company's stock valued at $125,373,000 after acquiring an additional 938,728 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of Hims & Hers Health by 49.2% during the third quarter. State of Michigan Retirement System now owns 2,057,700 shares of the company's stock worth $116,713,000 after acquiring an additional 678,600 shares during the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Company Profile

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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