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

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 morning, MarketBeat reports. The brokerage currently has $60.00 price objective on the stock, up from their prior price objective of $42.00.

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Piper Sandler lifted 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. TD Cowen reaffirmed a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Needham & Company LLC lifted their price target on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, BTIG Research started coverage on Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Hims & Hers Health presently has an average rating of “Hold” and a consensus target price of $26.33.

Hims & Hers Health Stock Performance

HIMS stock opened at $58.51 on Tuesday. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 132.98 and a beta of 1.35. The firm has a 50-day simple moving average of $33.17 and a two-hundred day simple moving average of $24.89. Hims & Hers Health has a one year low of $9.22 and a one year high of $64.84.

Insider Activity at Hims & Hers Health

In related news, insider Soleil Boughton sold 268,932 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the sale, the insider now directly owns 169,803 shares in the company, valued at approximately $4,712,033.25. The trade was a 61.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Chi sold 2,054 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total value of $68,932.24. Following the transaction, the insider now owns 184,947 shares of the company’s stock, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,052,332 shares of company stock worth $32,620,497 over the last ninety days. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

A number of institutional investors and hedge funds have recently modified their holdings of HIMS. Crewe Advisors LLC acquired a new stake in shares of Hims & Hers Health in the fourth quarter valued at $28,000. Raleigh Capital Management Inc. boosted its holdings in Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 1,100 shares during the last quarter. Blume Capital Management Inc. raised its position in shares of Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 600 shares during the period. Smartleaf Asset Management LLC raised 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 buying an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Hims & Hers Health in the 4th quarter valued at approximately $38,000. 63.52% of the stock is currently owned by institutional investors.

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.