Zacks Investment Research Lowers Hims & Hers Health (NYSE:HIMS) to Sell

Zacks Investment Research lowered shares of Hims & Hers Health (NYSE:HIMS) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Hims & Hers Health Inc. is a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals, enabling medical care for numerous conditions related to mental health, sexual health, dermatology, primary care and more. Hims & Hers Health Inc., formerly known as Oaktree Acquisition Corp., is based in San Francisco. “

A number of other brokerages have also recently commented on HIMS. Citigroup decreased their target price on Hims & Hers Health from $14.00 to $9.00 and set a buy rating on the stock in a report on Monday, December 20th. Jefferies Financial Group began coverage on Hims & Hers Health in a report on Wednesday, December 1st. They set a hold rating and a $7.00 price target on the stock. Finally, Piper Sandler raised Hims & Hers Health from a neutral rating to an overweight rating and raised their price target for the company from $10.00 to $12.00 in a report on Thursday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $12.11.

Shares of Hims & Hers Health stock opened at $5.29 on Wednesday. Hims & Hers Health has a one year low of $5.10 and a one year high of $25.40. The stock’s fifty day moving average is $6.58 and its 200 day moving average is $7.85.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Wednesday, November 10th. The company reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.05. Hims & Hers Health had a negative return on equity of 25.38% and a negative net margin of 35.74%. The company had revenue of $74.17 million for the quarter, compared to analysts’ expectations of $70.10 million. As a group, analysts forecast that Hims & Hers Health will post -0.25 earnings per share for the current year.

In other news, CEO Andrew Dudum bought 81,100 shares of Hims & Hers Health stock in a transaction dated Monday, December 13th. The shares were purchased at an average cost of $5.93 per share, with a total value of $480,923.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jack Abraham sold 1,000,000 shares of Hims & Hers Health stock in a transaction dated Tuesday, December 14th. The stock was sold at an average price of $5.55, for a total value of $5,550,000.00. The disclosure for this sale can be found here. Insiders own 43.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Vanguard Group Inc. grew its position in Hims & Hers Health by 31.3% in the second quarter. Vanguard Group Inc. now owns 8,751,054 shares of the company’s stock worth $95,299,000 after acquiring an additional 2,086,232 shares in the last quarter. Renaissance Technologies LLC grew its position in Hims & Hers Health by 8,925.1% in the third quarter. Renaissance Technologies LLC now owns 1,579,400 shares of the company’s stock worth $11,909,000 after acquiring an additional 1,561,900 shares in the last quarter. Morgan Stanley grew its position in Hims & Hers Health by 1,309.1% in the third quarter. Morgan Stanley now owns 1,046,164 shares of the company’s stock worth $7,888,000 after acquiring an additional 971,920 shares in the last quarter. BlackRock Inc. grew its position in Hims & Hers Health by 63.2% in the third quarter. BlackRock Inc. now owns 2,151,909 shares of the company’s stock worth $16,225,000 after acquiring an additional 833,033 shares in the last quarter. Finally, Luxor Capital Group LP purchased a new position in Hims & Hers Health in the third quarter worth about $5,149,000. Institutional investors own 43.94% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc operates a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals. The company offers a range of health and wellness products and services available for purchase on its websites directly by customers. It provides prescription medication on a recurring basis and ongoing care from healthcare providers; and over-the-counter drug and device products, as well as cosmetics and supplement products, primarily focusing on wellness, sexual health, skincare, and hair care.

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