Hims & Hers Health’s (HIMS) Buy Rating Reaffirmed at TD Cowen

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

Several other research firms also recently weighed in on HIMS. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Needham & Company LLC assumed coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective on the stock. Bank of America downgraded Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.71.

Hims & Hers Health Price Performance

NYSE HIMS opened at $23.94 on Wednesday. The company has a market cap of $5.23 billion, a PE ratio of 54.40 and a beta of 1.06. The stock’s 50 day simple moving average is $20.37 and its 200-day simple moving average is $19.12. Hims & Hers Health has a 1-year low of $7.67 and a 1-year high of $30.44.

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

Insider Activity

In other news, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total value of $38,593.50. Following the completion of the sale, the insider now directly owns 176,952 shares of the company’s stock, valued at approximately $2,919,708. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 269,739 shares of Hims & Hers Health stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the sale, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at $2,960,446.53. The trade was a 64.92 % 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 valued at $21,501,682. 17.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in 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 purchasing an additional 1,603 shares during the period. Quest Partners LLC boosted 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 valued at $72,000 after purchasing an additional 3,507 shares during the period. CWM LLC boosted its holdings in Hims & Hers Health by 21.4% in the third 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 purchased a new position in Hims & Hers Health in the second quarter valued at $111,000. Finally, Quarry LP boosted its holdings in Hims & Hers Health by 91.0% in the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares during the period. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

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.