Morgan Stanley Cuts Hims & Hers Health (NYSE:HIMS) Price Target to $40.00

Hims & Hers Health (NYSE:HIMS) had its price target trimmed by Morgan Stanley from $60.00 to $40.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages also recently issued reports on HIMS. TD Cowen downgraded shares of Hims & Hers Health from a “buy” rating to a “hold” rating and lowered their price target for the stock from $44.00 to $30.00 in a report on Tuesday. Leerink Partners increased their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research note on Tuesday, February 25th. 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 note on Tuesday, February 25th. Bank of America upped their price objective on shares of Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a report on Tuesday, March 18th. Finally, 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 objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Hold” and an average price target of $36.92.

Hims & Hers Health Stock Up 10.0 %

Shares of NYSE:HIMS opened at $36.39 on Tuesday. The company’s fifty day moving average is $32.19 and its 200 day moving average is $31.30. Hims & Hers Health has a 52 week low of $11.20 and a 52 week high of $72.98. 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 (NYSE:HIMS) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Sell-side analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other Hims & Hers Health news, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the transaction, the chief executive officer now owns 97,687 shares in the company, valued at $5,692,221.49. This trade represents a 56.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Soleil Boughton sold 3,236 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.19, for a total transaction of $97,694.84. Following the sale, the insider now directly owns 159,662 shares of the company’s stock, valued at $4,820,195.78. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 666,234 shares of company stock valued at $26,387,645. Insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of institutional investors have recently modified their holdings of HIMS. Vanguard Group Inc. grew its stake in 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 buying an additional 2,020,722 shares during the period. Farallon Capital Management LLC boosted 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 period. Renaissance Technologies LLC increased its holdings in Hims & Hers Health by 29.0% in 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 position in 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 valued at $152,436,000 after purchasing an additional 4,145,305 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Hims & Hers Health by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company’s stock worth $104,724,000 after purchasing an additional 40,447 shares in the last quarter. 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.