Hims & Hers Health (NYSE:HIMS) Price Target Cut to $37.00 by Analysts at Truist Financial

Hims & Hers Health (NYSE:HIMS) had its price objective decreased by Truist Financial from $48.00 to $37.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Hims & Hers Health from a “buy” rating to a “hold” rating in a research note on Monday, July 28th. Needham & Company LLC reiterated a “hold” rating on shares of Hims & Hers Health in a research note on Tuesday, August 5th. Bank of America increased their price objective on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 29th. TD Cowen lowered shares of Hims & Hers Health from a “buy” rating to a “hold” rating and cut their price objective for the stock from $44.00 to $30.00 in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.92.

Hims & Hers Health Trading Down 1.9%

NYSE HIMS opened at $45.15 on Monday. The company has a fifty day simple moving average of $52.72 and a two-hundred day simple moving average of $45.77. The stock has a market cap of $10.20 billion, a P/E ratio of 56.44, a P/E/G ratio of 2.91 and a beta of 2.08. Hims & Hers Health has a 12-month low of $13.47 and a 12-month high of $72.98. The company has a current ratio of 4.98, a quick ratio of 4.46 and a debt-to-equity ratio of 1.72.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $544.83 million during the quarter, compared to analysts’ expectations of $550.06 million. Hims & Hers Health had a return on equity of 26.26% and a net margin of 9.63%. The company’s quarterly revenue was up 72.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. On average, analysts forecast that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Activity

In other news, insider Patrick Harrison Carroll sold 60,000 shares of Hims & Hers Health stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $53.58, for a total value of $3,214,800.00. Following the sale, the insider owned 169,940 shares in the company, valued at $9,105,385.20. This trade represents a 26.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Chi sold 2,100 shares of Hims & Hers Health stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $57.52, for a total transaction of $120,792.00. Following the completion of the sale, the insider owned 278,654 shares in the company, valued at approximately $16,028,178.08. This trade represents a 0.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,273,034 shares of company stock valued at $66,425,573. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently bought and sold shares of the company. Farallon Capital Management LLC raised its stake in shares of Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock valued at $202,556,000 after acquiring an additional 8,364,000 shares during the period. Geode Capital Management LLC grew its holdings in Hims & Hers Health by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,746,081 shares of the company’s stock worth $236,622,000 after acquiring an additional 71,593 shares in the last quarter. Invesco Ltd. grew its holdings in Hims & Hers Health by 502.2% during the 2nd quarter. Invesco Ltd. now owns 2,552,405 shares of the company’s stock worth $127,237,000 after acquiring an additional 2,128,587 shares in the last quarter. Northern Trust Corp grew its holdings in Hims & Hers Health by 19.5% during the 1st quarter. Northern Trust Corp now owns 2,435,512 shares of the company’s stock worth $71,969,000 after acquiring an additional 397,310 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd boosted its holdings in shares of Hims & Hers Health by 41.2% in the 1st quarter. Yong Rong HK Asset Management Ltd now owns 2,400,000 shares of the company’s stock valued at $70,920,000 after buying an additional 700,100 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.