TD Cowen Reiterates Buy Rating for Hims & Hers Health (NYSE:HIMS)

Hims & Hers Health (NYSE:HIMS)‘s stock had its “buy” rating restated by research analysts at TD Cowen in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 price target on the stock. TD Cowen’s target price suggests a potential upside of 16.98% from the stock’s current price.

A number of other brokerages have also issued reports on HIMS. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price for the company. Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.71.

Hims & Hers Health Price Performance

Shares of HIMS opened at $23.94 on Wednesday. Hims & Hers Health has a 1 year low of $7.67 and a 1 year high of $30.44. The company has a 50 day simple moving average of $20.37 and a two-hundred day simple moving average of $19.12. The firm has a market cap of $5.23 billion, a P/E ratio of 54.40 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. During the same period last year, the firm posted ($0.04) EPS. The company’s revenue was up 77.1% on a year-over-year basis. On average, sell-side analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other news, COO Melissa Baird sold 58,750 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $21.04, for a total value of $1,236,100.00. Following the completion of the sale, the chief operating officer now owns 630,166 shares of the company’s stock, valued at approximately $13,258,692.64. This represents a 8.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Soleil Boughton sold 2,339 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total transaction of $38,593.50. Following the transaction, the insider now owns 176,952 shares in the company, valued at approximately $2,919,708. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,056,183 shares of company stock worth $21,501,682. 17.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after purchasing an additional 1,603 shares in the last quarter. Quest Partners LLC grew its holdings in Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Hims & Hers Health during the 2nd quarter valued at $111,000. CWM LLC boosted its position in shares of Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Quarry LP grew its stake in Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after buying an additional 2,913 shares during the last quarter. Institutional investors own 63.52% of the company’s stock.

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.