Bank of America Downgrades Hims & Hers Health (NYSE:HIMS) to Underperform

Bank of America lowered shares of Hims & Hers Health (NYSE:HIMS) from a buy rating to an underperform rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Bank of America currently has $18.00 price objective on the stock, down from their prior price objective of $32.00.

A number of other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Truist Financial lifted their price target on shares of Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Piper Sandler restated a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. TD Cowen lifted their target price on shares of Hims & Hers Health from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Needham & Company LLC began coverage on Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus price target of $20.71.

Hims & Hers Health Trading Down 7.3 %

Shares of HIMS opened at $19.32 on Thursday. Hims & Hers Health has a 12-month low of $7.40 and a 12-month high of $30.44. The firm has a market capitalization of $4.15 billion, a P/E ratio of 43.91 and a beta of 1.06. The firm has a 50-day moving average price of $19.76 and a 200 day moving average price of $18.92.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. During the same quarter last year, the firm earned ($0.04) EPS. The business’s revenue was up 77.1% compared to the same quarter last year. Equities research analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Oluyemi Okupe sold 11,609 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.60, for a total transaction of $169,491.40. Following the completion of the transaction, the chief financial officer now owns 181,469 shares in the company, valued at approximately $2,649,447.40. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the completion of the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at $487,789.12. This trade represents a 84.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 996,961 shares of company stock worth $20,256,416 in the last quarter. 17.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in shares of Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after acquiring an additional 1,603 shares in the last quarter. Quest Partners LLC increased its stake in Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after purchasing an additional 3,507 shares during the last quarter. CWM LLC raised its holdings in Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Hims & Hers Health during the 2nd quarter worth approximately $111,000. Finally, Quarry LP boosted its holdings in shares of Hims & Hers Health by 91.0% in the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after buying an additional 2,913 shares in the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.