Hims & Hers Health (NYSE:HIMS) Upgraded at Leerink Partnrs

Hims & Hers Health (NYSE:HIMS) was upgraded by investment analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on HIMS. BTIG Research restated a “buy” rating and issued a $85.00 target price on shares of Hims & Hers Health in a report on Tuesday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $68.00 price target on shares of Hims & Hers Health in a report on Friday, September 12th. Wall Street Zen cut shares of Hims & Hers Health from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Bank of America upped their price objective on Hims & Hers Health from $28.00 to $32.00 and gave the stock an “underperform” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hims & Hers Health in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.27.

Hims & Hers Health Stock Performance

Hims & Hers Health stock opened at $40.04 on Thursday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 74.15, a PEG ratio of 7.33 and a beta of 2.41. The stock has a fifty day moving average price of $46.14 and a 200 day moving average price of $49.98. Hims & Hers Health has a 52 week low of $23.97 and a 52 week high of $72.98. The company has a current ratio of 1.88, a quick ratio of 1.64 and a debt-to-equity ratio of 1.67.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $598.98 million during the quarter, compared to analyst estimates of $578.99 million. Hims & Hers Health had a return on equity of 24.67% and a net margin of 6.05%.The firm’s quarterly revenue was up 49.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Equities research analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current year.

Hims & Hers Health declared that its board has authorized a stock buyback plan on Monday, November 17th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Michael Chi sold 900 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $58.25, for a total value of $52,425.00. Following the completion of the sale, the insider directly owned 291,439 shares in the company, valued at approximately $16,976,321.75. This represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Soleil Boughton sold 2,637 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $42.53, for a total value of $112,151.61. Following the transaction, the insider owned 155,856 shares in the company, valued at approximately $6,628,555.68. This represents a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 616,431 shares of company stock valued at $32,924,482. Company insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently bought and sold shares of HIMS. Virtus Advisers LLC acquired a new stake in Hims & Hers Health in the second quarter valued at approximately $26,000. Quent Capital LLC acquired a new position in shares of Hims & Hers Health during the third quarter worth $28,000. Binnacle Investments Inc purchased a new position in shares of Hims & Hers Health in the third quarter valued at $28,000. Quaker Wealth Management LLC acquired a new stake in Hims & Hers Health during the 2nd quarter valued at $29,000. Finally, Bessemer Group Inc. grew its holdings in Hims & Hers Health by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 607 shares of the company’s stock valued at $30,000 after purchasing an additional 312 shares in the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

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.