Hims & Hers Health (NYSE:HIMS) Stock Gets Price Target Trim from Morgan Stanley

Hims & Hers Health (NYSE:HIMS) had its price objective cut by Morgan Stanley from $28.00 to $25.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts also recently issued reports on HIMS. JPMorgan Chase & Co. assumed coverage on Hims & Hers Health in a report on Friday, September 11th. They set a “neutral” rating and a $32.00 price target for the company. Citigroup dropped their price objective on Hims & Hers Health from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Deutsche Bank increased their price objective on Hims & Hers Health from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Bank of America raised their target price on Hims & Hers Health from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, Needham & Company LLC decreased their target price on Hims & Hers Health from $42.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.53.

Hims & Hers Health Stock Down 5.1%

Shares of Hims & Hers Health stock opened at $19.76 on Tuesday. Hims & Hers Health has a 52-week low of $13.74 and a 52-week high of $40.99. The company has a 50 day moving average of $27.77 and a 200 day moving average of $26.75. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 3.85. The company has a market capitalization of $4.61 billion, a P/E ratio of -23.81 and a beta of 2.53.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $890.37 million during the quarter, compared to analysts’ expectations of $893.13 million. Hims & Hers Health had a negative net margin of 6.65% and a negative return on equity of 9.62%. The company’s revenue for the quarter was up 48.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. As a group, research analysts forecast that Hims & Hers Health will post -0.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Soleil Boughton sold 3,462 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $27.60, for a total value of $95,551.20. Following the completion of the sale, the insider directly owned 293,886 shares of the company’s stock, valued at approximately $8,111,253.60. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Oluyemi Okupe sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $29.70, for a total value of $59,400.00. Following the completion of the sale, the chief financial officer directly owned 234,527 shares of the company’s stock, valued at approximately $6,965,451.90. This trade represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 133,905 shares of company stock valued at $3,826,977. Insiders own 11.76% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaGrep UK Ltd purchased a new position in shares of Hims & Hers Health during the 3rd quarter worth approximately $435,000. First Trust Advisors LP increased its holdings in shares of Hims & Hers Health by 369.8% in the 3rd quarter. First Trust Advisors LP now owns 239,624 shares of the company’s stock valued at $7,138,000 after purchasing an additional 188,615 shares in the last quarter. Creek Drive Management Group LLC lifted its stake in shares of Hims & Hers Health by 70.9% in the third quarter. Creek Drive Management Group LLC now owns 100,000 shares of the company’s stock valued at $2,979,000 after purchasing an additional 41,500 shares during the period. Cibc World Market Inc. lifted its stake in shares of Hims & Hers Health by 46.3% in the third quarter. Cibc World Market Inc. now owns 91,202 shares of the company’s stock valued at $2,717,000 after purchasing an additional 28,854 shares during the period. Finally, Western Wealth Management LLC lifted its stake in shares of Hims & Hers Health by 6.8% in the third quarter. Western Wealth Management LLC now owns 9,072 shares of the company’s stock valued at $270,000 after purchasing an additional 580 shares during the period. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Key Stories Impacting Hims & Hers Health

These are some of the HIMS stories that stood out recently:

• Negative Sentiment: Third-quarter results missed estimates: adjusted EPS was $0.03 versus $0.06 expected, while revenue of about $890 million also came in below consensus. Despite revenue growth of nearly 49% year over year, gross-margin pressure and subscriber declines raised concerns about the quality and cost of that growth. Hims & Hers Q3 earnings miss
• Negative Sentiment: The FTC privacy case widened, with five states joining. The added scrutiny over alleged privacy and billing practices creates potential legal costs and reputational risk. Five states join FTC case
• Negative Sentiment: Analyst commentary has also turned cautious, including pessimistic forecasts from Needham and Jefferies and a Hold rating from Morgan Stanley, reinforcing concerns about the outlook. Needham forecast Jefferies forecast

Hims & Hers Health Company Profile

Hims & Hers Health, Inc. operates a consumer-focused telehealth platform that connects patients with licensed healthcare providers and offers access to treatments and wellness products. Its services include online consultations, prescription care and over-the-counter products. The company serves a range of health needs, including hair loss, sexual health, skin care, mental health and weight management. Its platform also offers primary care and other services, with offerings varying by location and individual eligibility.