Hims & Hers Health (NYSE:HIMS) Earns Overweight Rating from Analysts at Barclays

Barclays initiated coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research report report published on Monday, Marketbeat.com reports. The brokerage issued an overweight rating and a $48.00 target price on the stock.

A number of other analysts have also weighed in on HIMS. Bank of America upped their target price on shares of Hims & Hers Health from $28.00 to $32.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 4th. Wall Street Zen cut shares of Hims & Hers Health from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Hims & Hers Health in a report on Monday. UBS Group set a $32.00 price objective on shares of Hims & Hers Health in a research report on Tuesday, November 4th. Finally, Zacks Research lowered Hims & Hers Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus price target of $45.50.

Hims & Hers Health Stock Performance

NYSE:HIMS opened at $37.92 on Monday. Hims & Hers Health has a 52 week low of $23.97 and a 52 week high of $72.98. The company has a fifty day simple moving average of $44.65 and a two-hundred day simple moving average of $49.39. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 1.67. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 70.23, a price-to-earnings-growth ratio of 7.87 and a beta of 2.41.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Hims & Hers Health had a net margin of 6.05% and a return on equity of 24.67%. The company had revenue of $598.98 million during the quarter, compared to analyst estimates of $578.99 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The firm’s revenue was up 49.2% on a year-over-year basis. As a group, equities analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Hims & Hers Health announced that its Board of Directors has authorized a share repurchase plan on Monday, November 17th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 145,000 shares of Hims & Hers Health stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $55.35, for a total transaction of $8,025,750.00. Following the transaction, the chief financial officer owned 128,984 shares of the company’s stock, valued at $7,139,264.40. The trade was a 52.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Chi sold 13,749 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $50.50, for a total value of $694,324.50. Following the completion of the sale, the insider owned 297,139 shares of the company’s stock, valued at approximately $15,005,519.50. This represents a 4.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 618,931 shares of company stock valued at $33,022,407. 13.71% of the stock is currently owned by insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds have recently added to or reduced their stakes in HIMS. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Hims & Hers Health by 0.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,600 shares of the company’s stock worth $1,452,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC raised its position in Hims & Hers Health by 15.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,672 shares of the company’s stock worth $49,000 after buying an additional 227 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Hims & Hers Health by 6.1% in the 3rd quarter. GAMMA Investing LLC now owns 4,098 shares of the company’s stock worth $232,000 after acquiring an additional 236 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Hims & Hers Health by 1.8% in the third quarter. Concurrent Investment Advisors LLC now owns 13,984 shares of the company’s stock valued at $793,000 after acquiring an additional 252 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Hims & Hers Health by 105.8% in the second quarter. Bessemer Group Inc. now owns 607 shares of the company’s stock valued at $30,000 after acquiring an additional 312 shares in 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.