Needham & Company LLC Reiterates "Hold" Rating for Hims & Hers Health (NYSE:HIMS)

Key Points

• Needham & Company LLC has reiterated a "hold" rating for Hims & Hers Health (NYSE:HIMS), reflecting a consensus average rating of "Hold" among analysts.
• Bank of America raised its target price for Hims & Hers Health from $22.00 to $26.00 while maintaining an "underperform" rating.
• Insider sales have occurred recently, with CEO Andrew Dudum and other executives significantly reducing their stock holdings, indicating potential concerns about the company's future performance.

Hims & Hers Health (NYSE:HIMS - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports.

HIMS has been the topic of several other reports. Bank of America raised their target price on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Citigroup reissued a "sell" rating on shares of Hims & Hers Health in a report on Monday, June 23rd. Piper Sandler restated a "neutral" rating and set a $39.00 target price (up from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their target price for the company from $44.00 to $30.00 in a report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health currently has an average rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Stock Up 1.3%

Shares of Hims & Hers Health stock opened at $63.38 on Tuesday. Hims & Hers Health has a twelve month low of $13.47 and a twelve month high of $72.98. The company's 50 day moving average is $53.79 and its 200 day moving average is $44.51. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 91.86, a price-to-earnings-growth ratio of 2.31 and a beta of 2.08.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $544.83 million for the quarter, compared to the consensus estimate of $550.06 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. Hims & Hers Health's quarterly revenue was up 72.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. Sell-side analysts expect that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Activity

In related news, insider Soleil Boughton sold 2,572 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $58.70, for a total value of $150,976.40. Following the completion of the transaction, the insider owned 155,593 shares of the company's stock, valued at approximately $9,133,309.10. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Dudum sold 125,335 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $49.54, for a total value of $6,209,095.90. Following the completion of the sale, the chief executive officer owned 92,313 shares of the company's stock, valued at $4,573,186.02. The trade was a 57.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 737,704 shares of company stock valued at $40,644,035 over the last 90 days. Company insiders own 17.71% of the company's stock.

Institutional Trading of Hims & Hers Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farallon Capital Management LLC increased its holdings in shares of Hims & Hers Health by 64,338.5% in 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 during the last quarter. Renaissance Technologies LLC increased its stake in Hims & Hers Health by 29.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock worth $168,079,000 after acquiring an additional 1,562,302 shares during the last quarter. Geode Capital Management LLC increased its stake in Hims & Hers Health by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company's stock worth $104,724,000 after acquiring an additional 40,447 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Hims & Hers Health by 19.5% during the 1st quarter. Northern Trust Corp now owns 2,435,512 shares of the company's stock worth $71,969,000 after acquiring an additional 397,310 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd boosted its position in shares of Hims & Hers Health by 41.2% during the 1st quarter. Yong Rong HK Asset Management Ltd now owns 2,400,000 shares of the company's stock valued at $70,920,000 after acquiring an additional 700,100 shares during the last quarter. Institutional investors own 63.52% of the company's stock.

Hims & Hers Health Company Profile

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.

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