Hims & Hers Health (NYSE:HIMS) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its Hims & Hers Health price target from $27 to $32 while maintaining a “hold” rating, implying roughly 4% upside. Analysts overall also assign the stock a consensus “hold” rating with an average target of $32.50.
• HIMS shares fell $3 to $30.78 in Monday trading. The company’s latest quarterly revenue of $753.2 million beat estimates, but its adjusted loss of $0.37 per share was significantly worse than the expected $0.05 loss.
• Insiders sold 186,769 shares worth approximately $6.0 million over the past quarter, though the transactions were conducted under pre-arranged plans. Institutional investors and hedge funds own 63.52% of the company.

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its target price hoisted by research analysts at Truist Financial from $27.00 to $32.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price objective indicates a potential upside of 3.97% from the company's current price.

Other equities analysts have also issued reports about the stock. BTIG Research reissued a "neutral" rating on shares of Hims & Hers Health in a report on Tuesday, May 12th. Morgan Stanley upped their price target on shares of Hims & Hers Health from $21.00 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Bank of America increased their price target on shares of Hims & Hers Health from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. lowered their price objective on shares of Hims & Hers Health from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Tuesday, May 12th. Finally, Zacks Research upgraded Hims & Hers Health from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hims & Hers Health has a consensus rating of "Hold" and an average price target of $32.50.

Hims & Hers Health Price Performance

Shares of HIMS stock traded down $3.00 during trading on Monday, hitting $30.78. The company had a trading volume of 8,122,470 shares, compared to its average volume of 26,055,002. The firm has a market capitalization of $7.18 billion, a P/E ratio of -48.88 and a beta of 2.40. Hims & Hers Health has a one year low of $13.74 and a one year high of $65.30. The company has a debt-to-equity ratio of 4.21, a quick ratio of 0.87 and a current ratio of 0.93. The stock's 50-day moving average price is $32.37 and its 200 day moving average price is $26.14.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.32). The company had revenue of $753.21 million for the quarter, compared to the consensus estimate of $698.90 million. Hims & Hers Health had a negative return on equity of 6.51% and a negative net margin of 5.51%.Hims & Hers Health's revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the business earned $0.17 EPS. Equities analysts expect that Hims & Hers Health will post -0.14 EPS for the current fiscal year.

Insider Activity

In other news, insider Deborah M. Autor sold 16,773 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $27.85, for a total transaction of $467,128.05. Following the completion of the transaction, the insider directly owned 48,961 shares in the company, valued at approximately $1,363,563.85. This represents a 25.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Chi sold 14,027 shares of the firm'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 sale, the chief operating officer directly owned 432,124 shares in the company, valued at approximately $13,611,906. This trade represents a 3.14% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 186,769 shares of company stock valued at $6,035,648. 11.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hims & Hers Health

Hedge funds have recently modified their holdings of the business. Binnacle Investments Inc acquired a new stake in Hims & Hers Health in the third quarter valued at $28,000. Versant Capital Management Inc grew its position in shares of Hims & Hers Health by 801.2% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the company's stock valued at $26,000 after buying an additional 665 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Hims & Hers Health by 70.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 775 shares of the company's stock valued at $27,000 after buying an additional 319 shares during the last quarter. Silicon Valley Capital Partners acquired a new stake in shares of Hims & Hers Health in the third quarter valued at about $48,000. Finally, Bogart Wealth LLC raised its position in shares of Hims & Hers Health by 235.8% during the fourth quarter. Bogart Wealth LLC now owns 900 shares of the company's stock worth $29,000 after acquiring an additional 632 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

About Hims & Hers Health

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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