Hims & Hers Health (NYSE:HIMS) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Hims & Hers Health (NYSE:HIMS) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

A number of other research firms also recently issued reports on HIMS. Bank of America upped their target price on shares of Hims & Hers Health from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, November 4th. KeyCorp initiated coverage on Hims & Hers Health in a research note on Tuesday, October 21st. They issued a “sector weight” rating for the company. UBS Group set a $32.00 price target on shares of Hims & Hers Health in a research report on Tuesday, November 4th. Leerink Partners upgraded shares of Hims & Hers Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. Finally, Citigroup reaffirmed a “sell” rating on shares of Hims & Hers Health in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Hims & Hers Health has a consensus rating of “Hold” and a consensus price target of $44.54.

Hims & Hers Health Stock Down 5.4%

HIMS opened at $28.83 on Monday. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 53.39, a PEG ratio of 5.16 and a beta of 2.37. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.64 and a current ratio of 1.88. Hims & Hers Health has a twelve month low of $23.97 and a twelve month high of $72.98. The firm’s 50-day simple moving average is $35.20 and its 200-day simple moving average is $45.31.

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

Hims & Hers Health declared that its board has authorized a stock repurchase program on Monday, November 17th that permits the company to buyback $250.00 million in 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 of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Patrick Harrison Carroll sold 10,021 shares of Hims & Hers Health stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $36.71, for a total value of $367,870.91. Following the sale, the insider owned 169,940 shares of the company’s stock, valued at approximately $6,238,497.40. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Irene Becklund sold 8,411 shares of Hims & Hers Health stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $36.71, for a total value of $308,767.81. Following the transaction, the insider owned 2,126 shares of the company’s stock, valued at $78,045.46. The trade was a 79.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 134,611 shares of company stock valued at $4,895,914 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently modified their holdings of the stock. Farallon Capital Management LLC grew its stake in Hims & Hers Health by 30.8% in the 3rd quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company’s stock valued at $609,561,000 after buying an additional 2,533,271 shares during the last quarter. Invesco Ltd. boosted its stake in Hims & Hers Health by 502.2% in the 2nd quarter. Invesco Ltd. now owns 2,552,405 shares of the company’s stock valued at $127,237,000 after purchasing an additional 2,128,587 shares during the period. Clear Street LLC acquired a new position in Hims & Hers Health in the 2nd quarter valued at $83,582,000. Norges Bank bought a new position in Hims & Hers Health during the 2nd quarter worth $78,464,000. Finally, Clear Street Group Inc. bought a new position in Hims & Hers Health during the 3rd quarter worth $87,372,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients’ doorsteps.

The company’s product portfolio addresses key areas of men’s and women’s health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.