Morgan Stanley Reaffirms “Equal Weight” Rating for Hims & Hers Health (NYSE:HIMS)

Hims & Hers Health (NYSE:HIMS)‘s stock had its “equal weight” rating reissued by analysts at Morgan Stanley in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $40.00 target price on the stock. Morgan Stanley’s price target would indicate a potential downside of 29.69% from the stock’s current price.

A number of other equities research analysts also recently issued reports on HIMS. Canaccord Genuity Group boosted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC lifted their price objective on Hims & Hers Health from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Bank of America increased their target price on Hims & Hers Health from $22.00 to $26.00 and gave the company an “underperform” rating in a report on Tuesday, April 29th. Piper Sandler reiterated a “neutral” rating and issued a $39.00 price target (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Finally, Leerink Partners raised their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Hims & Hers Health Stock Down 1.2%

HIMS stock opened at $56.89 on Wednesday. Hims & Hers Health has a 52-week low of $13.47 and a 52-week high of $72.98. The company’s 50-day simple moving average is $44.50 and its 200-day simple moving average is $37.98. The firm has a market cap of $12.73 billion, a P/E ratio of 129.30 and a beta of 2.09.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $586.01 million during the quarter, compared to analysts’ expectations of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s quarterly revenue was up 110.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. On average, analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Hims & Hers Health news, insider Patrick Harrison Carroll sold 23,287 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total value of $798,976.97. Following the completion of the transaction, the insider now owns 209,661 shares in the company, valued at approximately $7,193,468.91. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Irene Becklund sold 2,203 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $28.78, for a total transaction of $63,402.34. Following the completion of the sale, the insider now owns 8,007 shares of the company’s stock, valued at $230,441.46. This trade represents a 21.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 628,067 shares of company stock valued at $25,832,688 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently added to or reduced their stakes in HIMS. Yousif Capital Management LLC purchased a new stake in shares of Hims & Hers Health in the fourth quarter valued at $1,788,000. Kestra Private Wealth Services LLC grew its holdings in shares of Hims & Hers Health by 105.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,106 shares of the company’s stock worth $704,000 after purchasing an additional 14,912 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Hims & Hers Health in the fourth quarter worth $2,234,000. New York State Teachers Retirement System grew its stake in shares of Hims & Hers Health by 3,284.6% in the fourth quarter. New York State Teachers Retirement System now owns 99,812 shares of the company’s stock valued at $2,413,000 after buying an additional 96,863 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Hims & Hers Health by 93.8% during the 4th quarter. Rhumbline Advisers now owns 516,224 shares of the company’s stock worth $12,482,000 after buying an additional 249,854 shares during the period. 63.52% of the stock is owned by institutional investors and hedge funds.

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.