Truist Financial Issues Pessimistic Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Key Points

• Truist Financial has cut its price target for Hims & Hers Health from $48.00 to $37.00, suggesting a potential downside of 17.58% from its previous close.
• Other firms, such as TD Cowen and Morgan Stanley, have also downgraded their ratings, with Hims receiving an average rating of "Hold" and a target price of $38.92.
• Despite a 72.6% year-over-year revenue increase, Hims & Hers Health missed earnings estimates and its CFO recently sold a significant number of shares, indicating potential insider concerns.

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its price target cut by Truist Financial from $48.00 to $37.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential downside of 17.58% from the stock's previous close.

Several other research firms have also recently weighed in on HIMS. TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Morgan Stanley reiterated an "equal weight" rating and set a $40.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, June 11th. UBS Group set a $30.00 price objective on shares of Hims & Hers Health in a research report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Finally, Piper Sandler reiterated a "neutral" rating and set a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $38.92.

Hims & Hers Health Price Performance

Shares of Hims & Hers Health stock traded down $1.13 on Monday, reaching $44.89. 6,166,471 shares of the stock were exchanged, compared to its average volume of 33,823,930. The firm's 50 day moving average is $52.96 and its 200-day moving average is $45.72. Hims & Hers Health has a one year low of $13.47 and a one year high of $72.98. The company has a debt-to-equity ratio of 1.72, a quick ratio of 4.46 and a current ratio of 4.98. The firm has a market cap of $10.15 billion, a PE ratio of 56.01, a P/E/G ratio of 2.91 and a beta of 2.08.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $544.83 million during the quarter, compared to the consensus estimate of $550.06 million. Hims & Hers Health had a net margin of 9.63% and a return on equity of 26.26%. Hims & Hers Health's revenue for the quarter was up 72.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. As a group, analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 23,107 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the sale, the chief financial officer directly owned 63,222 shares of the company's stock, valued at $2,987,239.50. This trade represents a 26.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Chi sold 17,102 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total transaction of $1,021,844.50. Following the transaction, the insider directly owned 278,654 shares of the company's stock, valued at $16,649,576.50. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,273,034 shares of company stock valued at $66,425,573 over the last 90 days. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Signaturefd LLC boosted its stake in shares of Hims & Hers Health by 17.7% during the 1st quarter. Signaturefd LLC now owns 2,586 shares of the company's stock worth $76,000 after purchasing an additional 388 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Hims & Hers Health during the fourth quarter valued at approximately $18,048,000. GAMMA Investing LLC raised its stake in shares of Hims & Hers Health by 128.5% during the first quarter. GAMMA Investing LLC now owns 5,143 shares of the company's stock valued at $152,000 after acquiring an additional 2,892 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Hims & Hers Health by 95.2% during the first quarter. New York State Teachers Retirement System now owns 194,795 shares of the company's stock valued at $5,756,000 after acquiring an additional 94,983 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Hims & Hers Health during the fourth quarter valued at approximately $1,230,000. Hedge funds and other 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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