Hims & Hers Health (NYSE:HIMS) Cut to “Hold” at TD Cowen

TD Cowen lowered shares of Hims & Hers Health (NYSE:HIMS) from a buy rating to a hold rating in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $30.00 price objective on the stock, down from their previous price objective of $44.00.

A number of other research firms have also weighed in on HIMS. Bank of America increased their target price on Hims & Hers Health from $21.00 to $22.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 18th. BTIG Research started coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. Canaccord Genuity Group lifted their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Leerink Partners boosted their price objective on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, February 25th. Finally, Piper Sandler raised their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and a consensus target price of $36.92.

Hims & Hers Health Trading Up 10.0 %

HIMS stock opened at $36.39 on Tuesday. The stock has a market cap of $8.09 billion, a PE ratio of 82.72 and a beta of 1.65. Hims & Hers Health has a 12 month low of $11.20 and a 12 month high of $72.98. The company has a 50-day moving average price of $32.19 and a 200 day moving average price of $31.30.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Sell-side analysts forecast that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Transactions at Hims & Hers Health

In related news, CEO Andrew Dudum sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $36.39, for a total transaction of $1,819,500.00. Following the completion of the transaction, the chief executive officer now owns 92,103 shares in the company, valued at $3,351,628.17. The trade was a 35.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Soleil Boughton sold 4,153 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $35.30, for a total transaction of $146,600.90. Following the completion of the sale, the insider now owns 161,497 shares of the company’s stock, valued at approximately $5,700,844.10. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 666,234 shares of company stock valued at $26,387,645. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after acquiring an additional 2,020,722 shares during the last quarter. Farallon Capital Management LLC grew its position in Hims & Hers Health by 64,338.5% during the 4th 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% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock valued at $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Hims & Hers Health by 192.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after buying an additional 4,145,305 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Hims & Hers Health by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company’s stock worth $104,724,000 after buying an additional 40,447 shares during the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

About Hims & Hers Health

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.