Hims & Hers Health (NYSE:HIMS) Stock Rating Lowered by Citigroup

Hims & Hers Health (NYSE:HIMS) was downgraded by stock analysts at Citigroup from a “neutral” rating to a “sell” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $25.00 target price on the stock, up from their previous target price of $24.00. Citigroup’s price target would suggest a potential downside of 1.61% from the company’s current price.

Several other research firms have also recently issued reports on HIMS. 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 report on Wednesday, November 6th. TD Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Piper Sandler raised their target price on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Morgan Stanley started coverage on shares of Hims & Hers Health in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Hims & Hers Health currently has an average rating of “Hold” and an average price target of $25.13.

Hims & Hers Health Stock Down 1.2 %

NYSE:HIMS opened at $25.41 on Friday. Hims & Hers Health has a 52 week low of $8.14 and a 52 week high of $35.02. The stock has a market capitalization of $5.55 billion, a PE ratio of 57.75 and a beta of 1.31. The stock’s 50-day moving average price is $27.21 and its 200-day moving average price is $21.64.

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

Insiders Place Their Bets

In related news, 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 transaction of $5,478,399.09. Following the transaction, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. The trade was a 64.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 268,932 shares of Hims & Hers Health stock in a transaction on Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the transaction, the insider now owns 169,803 shares in the company, valued at $4,712,033.25. The trade was a 61.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,333,446 shares of company stock valued at $34,175,197. Company insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in HIMS. Renaissance Technologies LLC increased its position in shares of Hims & Hers Health by 113.1% in the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after purchasing an additional 3,205,108 shares during the last quarter. State Street Corp increased its position in shares of Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after purchasing an additional 482,177 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after purchasing an additional 883,230 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Hims & Hers Health by 15.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock worth $30,714,000 after purchasing an additional 218,566 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

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.