Needham & Company LLC Reaffirms "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 reaffirmed by analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports.

Other equities research analysts also recently issued reports about the company. TD Cowen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. UBS Group set a $30.00 price target on Hims & Hers Health in a report on Monday, June 23rd. Citigroup reaffirmed a "sell" rating on shares of Hims & Hers Health in a report on Monday, June 23rd. Morgan Stanley reiterated an "equal weight" rating and issued a $40.00 target price on shares of Hims & Hers Health in a report on Wednesday, June 11th. Finally, Wall Street Zen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating in a report on Monday, July 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.83.

Hims & Hers Health Price Performance

Shares of HIMS traded up $0.82 during mid-day trading on Tuesday, reaching $51.87. 23,133,738 shares of the company's stock were exchanged, compared to its average volume of 37,328,096. The company has a quick ratio of 1.32, a current ratio of 4.98 and a debt-to-equity ratio of 1.72. The company has a 50-day simple moving average of $53.66 and a two-hundred day simple moving average of $44.95. 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 $11.61 billion, a price-to-earnings ratio of 64.84, a PEG ratio of 3.23 and a beta of 2.08.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.17 earnings per share (EPS) 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 analysts' expectations of $550.06 million. Hims & Hers Health had a net margin of 9.63% and a return on equity of 26.26%. The business's quarterly revenue was up 72.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. On average, sell-side analysts predict that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Activity at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 11,581 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $47.70, for a total transaction of $552,413.70. Following the completion of the transaction, the chief financial officer directly owned 54,084 shares of the company's stock, valued at $2,579,806.80. This represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Dudum sold 125,335 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 92,313 shares of the company's stock, valued at $4,573,186.02. This represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 797,704 shares of company stock valued at $43,858,835 over the last 90 days. Insiders own 13.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in the company. Quaker Wealth Management LLC acquired a new position in Hims & Hers Health in the 2nd quarter valued at about $29,000. Bessemer Group Inc. grew its stake in Hims & Hers Health by 105.8% during the second quarter. Bessemer Group Inc. now owns 607 shares of the company's stock worth $30,000 after buying an additional 312 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Hims & Hers Health during the first quarter worth about $30,000. UMB Bank n.a. raised its stake in Hims & Hers Health by 247.5% during the first quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock worth $39,000 after acquiring an additional 933 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Hims & Hers Health during the first quarter worth about $41,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.