Hims & Hers Health (NYSE:HIMS) Downgraded by Morgan Stanley to Equal Weight

Morgan Stanley cut shares of Hims & Hers Health (NYSE:HIMS) from an overweight rating to an equal weight rating in a report published on Tuesday, MarketBeat.com reports. They currently have $60.00 price objective on the stock, up from their prior price objective of $42.00.

Other equities analysts have also recently issued research reports about the company. BTIG Research started coverage on Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. Piper Sandler upped their target price on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their target price for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. Citigroup lowered Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their target price for the company from $24.00 to $25.00 in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.33.

Hims & Hers Health Stock Performance

NYSE:HIMS opened at $58.51 on Tuesday. The stock has a fifty day moving average price of $33.17 and a 200-day moving average price of $24.89. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 132.98 and a beta of 1.35. Hims & Hers Health has a fifty-two week low of $9.22 and a fifty-two week high of $64.84.

Insider Activity at Hims & Hers Health

In related news, COO Melissa Baird sold 67,687 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $44.71, for a total transaction of $3,026,285.77. Following the sale, the chief operating officer now directly owns 706,872 shares of the company’s stock, valued at $31,604,247.12. This trade represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Oluyemi Okupe sold 101,993 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $29.62, for a total value of $3,021,032.66. Following the transaction, the chief financial officer now owns 109,392 shares in the company, valued at $3,240,191.04. This represents a 48.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,052,332 shares of company stock valued at $32,620,497. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in Hims & Hers Health during the fourth quarter worth $28,000. Raleigh Capital Management Inc. lifted its holdings in shares of Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 1,100 shares during the last quarter. Blume Capital Management Inc. increased its position in Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the period. Smartleaf Asset Management LLC increased its position in Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after acquiring an additional 1,413 shares during the period. Finally, Summit Securities Group LLC acquired a new position in Hims & Hers Health during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.