Morgan Stanley Reaffirms Equal Weight Rating for Hims & Hers Health (NYSE:HIMS)

Morgan Stanley reiterated their equal weight rating on shares of Hims & Hers Health (NYSE:HIMS - Free Report) in a research report released on Wednesday,Benzinga reports. Morgan Stanley currently has a $40.00 target price on the stock.

Several other research firms also recently weighed in on HIMS. TD Cowen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their price target for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Wall Street Zen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. UBS Group reissued a "mixed" rating on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Citigroup restated a "sell" rating and set a $30.00 price objective (up previously from $25.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Finally, Bank of America raised 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.00.

Hims & Hers Health Stock Down 3.2%

NYSE HIMS traded down $1.82 during mid-day trading on Wednesday, hitting $55.33. The stock had a trading volume of 26,342,229 shares, compared to its average volume of 21,156,056. Hims & Hers Health has a 52-week low of $13.47 and a 52-week high of $72.98. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 125.75 and a beta of 2.09. The company has a 50 day simple moving average of $45.09 and a 200 day simple moving average of $38.21.

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

Insider Activity at Hims & Hers Health

In related news, COO Melissa Baird sold 33,333 shares of Hims & Hers Health stock in a transaction on Monday, April 21st. The stock was sold at an average price of $25.78, for a total value of $859,324.74. Following the transaction, the chief operating officer now owns 805,083 shares in the company, valued at approximately $20,755,039.74. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick Harrison Carroll sold 23,287 shares of Hims & Hers Health stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $34.31, for a total value of $798,976.97. Following the completion of the transaction, the insider now owns 209,661 shares in the company, valued at $7,193,468.91. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 628,067 shares of company stock worth $25,832,688. 13.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HIMS. Farallon Capital Management LLC lifted its stake in shares of Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after purchasing an additional 8,364,000 shares in 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 worth $152,436,000 after purchasing an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock worth $489,817,000 after purchasing an additional 2,020,722 shares in the last quarter. Nuveen LLC acquired a new position in shares of Hims & Hers Health during the first quarter worth about $58,403,000. Finally, Yong Rong HK Asset Management Ltd acquired a new position in shares of Hims & Hers Health during the fourth quarter worth about $41,104,000. 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.