Leerink Partnrs Upgrades Hims & Hers Health (NYSE:HIMS) to Strong-Buy

Hims & Hers Health (NYSE:HIMS) was upgraded by stock analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also commented on HIMS. KeyCorp initiated coverage on Hims & Hers Health in a research report on Tuesday, October 21st. They issued a “sector weight” rating on the stock. UBS Group set a $32.00 price objective on shares of Hims & Hers Health in a report on Tuesday, November 4th. Truist Financial cut their price objective on shares of Hims & Hers Health from $48.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, August 18th. Bank of America raised their target price on shares of Hims & Hers Health from $28.00 to $32.00 and gave the stock an “underperform” rating in a report on Tuesday, November 4th. Finally, Zacks Research lowered shares of Hims & Hers Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.27.

Hims & Hers Health Price Performance

Shares of HIMS opened at $39.27 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.88 and a quick ratio of 1.64. The company’s fifty day moving average price is $45.76 and its 200-day moving average price is $49.82. Hims & Hers Health has a 1-year low of $23.97 and a 1-year high of $72.98. The firm has a market capitalization of $8.94 billion, a PE ratio of 72.72, a price-to-earnings-growth ratio of 7.91 and a beta of 2.41.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $598.98 million for the quarter, compared to analyst estimates of $578.99 million. Hims & Hers Health had a return on equity of 24.67% and a net margin of 6.05%.The business’s revenue was up 49.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities research analysts predict that Hims & Hers Health will post 0.29 EPS for the current year.

Hims & Hers Health announced that its Board of Directors has initiated a share buyback program on Monday, November 17th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 2,637 shares of Hims & Hers Health stock in a transaction on Monday, November 10th. The shares were sold at an average price of $42.53, for a total value of $112,151.61. Following the completion of the transaction, the insider owned 155,856 shares of the company’s stock, valued at approximately $6,628,555.68. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Chi sold 900 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $58.25, for a total transaction of $52,425.00. Following the sale, the insider directly owned 291,439 shares in the company, valued at approximately $16,976,321.75. The trade was a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 616,431 shares of company stock worth $32,924,482. 13.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

A number of institutional investors and hedge funds have recently made changes to their positions in HIMS. Virtus Advisers LLC acquired a new stake in Hims & Hers Health in the 2nd quarter valued at $26,000. Quent Capital LLC purchased a new position in Hims & Hers Health during the third quarter valued at $28,000. Binnacle Investments Inc acquired a new stake in shares of Hims & Hers Health in the third quarter valued at about $28,000. Quaker Wealth Management LLC purchased a new stake in shares of Hims & Hers Health during the second quarter worth about $29,000. Finally, Bessemer Group Inc. increased its stake in shares of Hims & Hers Health by 105.8% during the second quarter. Bessemer Group Inc. now owns 607 shares of the company’s stock worth $30,000 after purchasing an additional 312 shares in the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

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.