Zacks Research Upgrades Hims & Hers Health (NYSE:HIMS) to "Hold"

Key Points

• Zacks Research upgraded Hims & Hers Health from “strong sell” to “hold,” while the broader analyst consensus remains “Hold” with an average price target of $30.70.
• The company’s latest earnings missed expectations, posting a loss of $0.40 per share versus a projected profit, while revenue of $608.1 million also came in slightly below estimates.
• Shares were trading at $35.14, above both the 50-day moving average of $29.69 and the consensus target price, and insider activity was mixed with a director buying shares while the COO sold shares under a pre-arranged plan.

Hims & Hers Health (NYSE:HIMS - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Leerink Partners upped their price objective on shares of Hims & Hers Health from $17.50 to $25.00 and gave the stock a "market perform" rating in a report on Monday, March 16th. JPMorgan Chase & Co. dropped their price target on Hims & Hers Health from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 12th. Barclays upped their price target on Hims & Hers Health from $29.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 17th. Citigroup lifted their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, May 12th. Finally, Needham & Company LLC increased their target price on Hims & Hers Health from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.70.

Hims & Hers Health Price Performance

Shares of HIMS stock opened at $35.14 on Monday. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of -390.43, a PEG ratio of 96.75 and a beta of 2.35. The business's fifty day moving average is $29.69 and its 200 day moving average is $26.34. Hims & Hers Health has a twelve month low of $13.74 and a twelve month high of $70.43. The company has a quick ratio of 1.56, a current ratio of 1.69 and a debt-to-equity ratio of 2.18.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.44). The business had revenue of $608.10 million for the quarter, compared to the consensus estimate of $616.84 million. Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. Research analysts expect that Hims & Hers Health will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, Director David B. Wells bought 48,400 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $24.23 per share, with a total value of $1,172,732.00. Following the transaction, the director owned 224,417 shares in the company, valued at $5,437,623.91. This represents a 27.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Michael Chi sold 14,027 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $31.50, for a total transaction 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. The trade was 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 167,161 shares of company stock worth $5,041,152. 11.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Hims & Hers Health by 23.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 418,699 shares of the company's stock valued at $12,373,000 after buying an additional 78,543 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Hims & Hers Health in the first quarter worth $30,000. EverSource Wealth Advisors LLC increased 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 valued at $47,000 after acquiring an additional 687 shares during the last quarter. Amundi lifted its holdings in Hims & Hers Health by 5.3% in the second quarter. Amundi now owns 10,296 shares of the company's stock valued at $489,000 after acquiring an additional 522 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Hims & Hers Health by 9.5% in the second quarter. California Public Employees Retirement System now owns 338,620 shares of the company's stock valued at $16,880,000 after acquiring an additional 29,471 shares during the period. 63.52% of the stock is 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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