Piper Sandler Reaffirms “Neutral” Rating for Hims & Hers Health (NYSE:HIMS)

Hims & Hers Health (NYSE:HIMS)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a research note issued on Tuesday, Benzinga reports. They presently have a $21.00 price objective on the stock, up from their prior price objective of $18.00. Piper Sandler’s price objective would suggest a potential downside of 10.41% from the stock’s current price.

HIMS has been the topic of several other reports. Canaccord Genuity Group upped their target price on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen upped their price target on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Bank of America boosted their target price on Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Hims & Hers Health Stock Up 13.6 %

Shares of NYSE:HIMS opened at $23.44 on Tuesday. Hims & Hers Health has a fifty-two week low of $6.58 and a fifty-two week high of $25.74. The firm’s 50-day simple moving average is $18.22 and its 200-day simple moving average is $18.26. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 53.27 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.26. The firm had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 11.67% and a net margin of 8.19%. Hims & Hers Health’s revenue was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.04) earnings per share. On average, research analysts forecast that Hims & Hers Health will post 0.22 EPS for the current year.

Insider Activity

In other news, insider Soleil Boughton sold 2,345 shares of Hims & Hers Health stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.65, for a total transaction of $34,354.25. Following the transaction, the insider now owns 159,796 shares in the company, valued at approximately $2,341,011.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Oluyemi Okupe sold 11,609 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.60, for a total value of $169,491.40. Following the completion of the sale, the chief financial officer now owns 181,469 shares of the company’s stock, valued at approximately $2,649,447.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 2,345 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.65, for a total transaction of $34,354.25. Following the completion of the sale, the insider now directly owns 159,796 shares of the company’s stock, valued at $2,341,011.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,659 shares of company stock worth $11,712,198 over the last 90 days. 17.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in shares of Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares during the period. Quest Partners LLC raised its stake in Hims & Hers Health by 5,944.1% during the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after purchasing an additional 3,507 shares during the last quarter. CWM LLC boosted its holdings in Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the period. Van ECK Associates Corp acquired a new stake in Hims & Hers Health in the 2nd quarter worth $111,000. Finally, Amalgamated Bank increased its holdings in shares of Hims & Hers Health by 55.9% during the 2nd quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock worth $133,000 after purchasing an additional 2,354 shares during the period. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.