Hims & Hers Health (NYSE:HIMS) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Hims & Hers Health from $25 to $36, while keeping a neutral rating. The new target implies only about 4.2% upside from the current share price.
• The broader analyst view remains mixed: Hims & Hers has an average Hold rating and a consensus price target of $30.10, with recent upgrades and downgrades from other firms on both sides.
• The company’s latest results were weak, with EPS of -$0.40 versus expectations for a profit and revenue of $608.1 million, slightly below estimates. Insider selling also continued, including recent sales by a director and the COO under pre-arranged trading plans.

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its price objective hoisted by analysts at Bank of America from $25.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Bank of America's target price would indicate a potential upside of 4.23% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Leerink Partners increased their price target on shares of Hims & Hers Health from $17.50 to $25.00 and gave the company a "market perform" rating in a report on Monday, March 16th. Wall Street Zen downgraded shares of Hims & Hers Health from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Canaccord Genuity Group set a $32.00 target price on shares of Hims & Hers Health in a research report on Tuesday, May 12th. Truist Financial increased their target price on shares of Hims & Hers Health from $18.00 to $23.00 and gave the company a "hold" rating in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded shares of Hims & Hers Health from a "hold (c)" rating to a "sell (d)" rating in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Hims & Hers Health presently has an average rating of "Hold" and a consensus target price of $30.10.

Hims & Hers Health Trading Up 3.4%

Shares of HIMS stock opened at $34.54 on Wednesday. The business's fifty day moving average price is $28.18 and its 200 day moving average price is $26.31. Hims & Hers Health has a 1-year low of $13.74 and a 1-year high of $70.43. The firm has a market capitalization of $7.99 billion, a PE ratio of -383.76, a P/E/G ratio of 47.73 and a beta of 2.37. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.69 and a quick ratio of 1.56.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.44). The business had revenue of $608.10 million during 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 company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. As a group, sell-side analysts forecast that Hims & Hers Health will post 0.05 EPS for the current fiscal year.

Insider Activity

In other news, insider Irene Becklund sold 4,490 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total value of $141,435.00. Following the completion of the transaction, the insider directly owned 6,790 shares of the company's stock, valued at $213,885. The trade was a 39.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Michael Chi sold 14,027 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $31.50, for a total value of $441,850.50. Following the completion of the sale, the chief operating officer owned 432,124 shares in the company, valued at $13,611,906. This represents a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 163,973 shares of company stock worth $4,859,194 in the last quarter. 11.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Hims & Hers Health by 23.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 418,699 shares of the company's stock worth $12,373,000 after buying an additional 78,543 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Hims & Hers Health during the first quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its position in Hims & Hers Health by 273.7% during the second quarter. EverSource Wealth Advisors LLC now owns 938 shares of the company's stock worth $47,000 after acquiring an additional 687 shares during the last quarter. Amundi grew its stake in Hims & Hers Health by 5.3% in the 2nd quarter. Amundi now owns 10,296 shares of the company's stock worth $489,000 after acquiring an additional 522 shares during the period. Finally, California Public Employees Retirement System grew its stake in Hims & Hers Health by 9.5% in the 2nd quarter. California Public Employees Retirement System now owns 338,620 shares of the company's stock worth $16,880,000 after acquiring an additional 29,471 shares during the period. 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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