Hims & Hers Health (NYSE:HIMS) Rating Increased to Buy at Wall Street Zen

Hims & Hers Health (NYSE:HIMS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Thursday.

Other analysts have also issued reports about the company. Citigroup reiterated a "sell" rating and set a $30.00 price objective (up from $25.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Piper Sandler reaffirmed a "neutral" rating and set a $39.00 price target (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and issued a $61.00 price objective on shares of Hims & Hers Health in a report on Tuesday, May 6th. Leerink Partners increased their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $37.67.

Hims & Hers Health Stock Down 4.4%

Shares of HIMS traded down $2.58 during trading hours on Thursday, reaching $55.42. The company's stock had a trading volume of 22,318,853 shares, compared to its average volume of 19,412,389. The company has a 50 day moving average of $37.10 and a two-hundred day moving average of $34.54. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 125.81 and a beta of 1.84. Hims & Hers Health has a 1-year low of $13.47 and a 1-year high of $72.98.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. During the same quarter in the prior year, the business earned $0.05 EPS. The company's revenue for the quarter was up 110.7% compared to the same quarter last year. As a group, analysts forecast that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Activity

In related news, insider Irene Becklund sold 2,203 shares of Hims & Hers Health stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $28.78, for a total transaction of $63,402.34. Following the sale, the insider now directly owns 8,007 shares of the company's stock, valued at $230,441.46. This trade represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $33.98, for a total value of $4,353,755.46. Following the completion of the transaction, the chief executive officer now directly owns 173,655 shares of the company's stock, valued at approximately $5,900,796.90. This trade represents a 42.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 618,936 shares of company stock valued at $25,182,692. 13.71% of the stock is owned by insiders.

Institutional Trading of Hims & Hers Health

Several institutional investors have recently modified their holdings of the company. Means Investment CO. Inc. lifted its stake in Hims & Hers Health by 23.5% during the fourth quarter. Means Investment CO. Inc. now owns 50,040 shares of the company's stock worth $1,210,000 after purchasing an additional 9,508 shares during the period. Raymond James Financial Inc. acquired a new stake in Hims & Hers Health in the 4th quarter valued at $18,048,000. State of Alaska Department of Revenue bought a new stake in Hims & Hers Health in the fourth quarter valued at $2,628,000. Pacer Advisors Inc. bought a new position in shares of Hims & Hers Health during the fourth quarter valued at $374,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Hims & Hers Health in the 4th quarter valued at $2,234,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.