Hims & Hers Health (NYSE:HIMS) Downgraded by Needham & Company LLC to Hold

Hims & Hers Health (NYSE:HIMS) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Monday,Briefing.com Automated Import reports.

A number of other research analysts have also recently commented on the company. UBS Group restated a “mixed” rating on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Truist Financial decreased their price objective on Hims & Hers Health from $39.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Finally, Leerink Partners lifted their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Hims & Hers Health presently has an average rating of “Hold” and an average target price of $38.00.

Hims & Hers Health Stock Down 32.4%

Shares of NYSE:HIMS traded down $20.83 on Monday, hitting $43.39. The company had a trading volume of 104,578,383 shares, compared to its average volume of 21,945,897. The firm’s 50-day simple moving average is $48.43 and its two-hundred day simple moving average is $39.27. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 63.31, a P/E/G ratio of 2.42 and a beta of 2.09. Hims & Hers Health has a 1 year low of $13.47 and a 1 year high of $72.98.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The company had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. During the same period in the prior year, the firm earned $0.05 earnings per share. Hims & Hers Health’s revenue was up 110.7% on a year-over-year basis. Equities research analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 36,460 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $28.04, for a total transaction of $1,022,338.40. Following the completion of the sale, the chief executive officer now directly owns 92,103 shares in the company, valued at approximately $2,582,568.12. The trade was a 28.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Irene Becklund sold 2,203 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $28.78, for a total value of $63,402.34. Following the completion of the transaction, the insider now owns 8,007 shares in the company, valued at approximately $230,441.46. This trade represents a 21.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 751,034 shares of company stock valued at $36,486,522 over the last 90 days. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake in shares of Hims & Hers Health by 15.7% in the first 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 period. Allworth Financial LP lifted its holdings in Hims & Hers Health by 20.0% during the first quarter. Allworth Financial LP now owns 2,006 shares of the company’s stock valued at $56,000 after purchasing an additional 334 shares in the last quarter. Signaturefd LLC boosted its position in shares of Hims & Hers Health by 17.7% in the first quarter. Signaturefd LLC now owns 2,586 shares of the company’s stock worth $76,000 after purchasing an additional 388 shares during the period. SlateStone Wealth LLC increased its stake in shares of Hims & Hers Health by 4.0% in the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock worth $257,000 after purchasing an additional 413 shares in the last quarter. Finally, Kilter Group LLC raised its position in shares of Hims & Hers Health by 1.0% during the 1st quarter. Kilter Group LLC now owns 43,989 shares of the company’s stock valued at $1,300,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

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.