Hims & Hers Health (NYSE:HIMS) Coverage Initiated at Barclays

Equities researchers at Barclays began coverage on shares of Hims & Hers Health (NYSE:HIMS) in a report issued on Monday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $48.00 price target on the stock. Barclays‘s price target would suggest a potential upside of 26.11% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Hims & Hers Health from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Bank of America increased their price objective on Hims & Hers Health from $28.00 to $32.00 and gave the company an “underperform” rating in a research note on Tuesday, November 4th. Zacks Research downgraded Hims & Hers Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Leerink Partnrs raised Hims & Hers Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hims & Hers Health in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.50.

Hims & Hers Health Price Performance

HIMS opened at $38.06 on Monday. The stock’s 50-day moving average price is $45.02 and its 200 day moving average price is $49.47. Hims & Hers Health has a 12-month low of $23.97 and a 12-month high of $72.98. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 70.50, a PEG ratio of 7.74 and a beta of 2.41. 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). Hims & Hers Health had a return on equity of 24.67% and a net margin of 6.05%.The business had revenue of $598.98 million for the quarter, compared to analysts’ expectations of $578.99 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 49.2% on a year-over-year basis. As a group, sell-side analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current year.

Hims & Hers Health announced that its Board of Directors has approved a stock repurchase program on Monday, November 17th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 23,187 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $36.81, for a total transaction of $853,513.47. Following the completion of the transaction, the chief financial officer directly owned 70,232 shares of the company’s stock, valued at $2,585,239.92. This trade represents a 24.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Soleil Boughton sold 2,637 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $42.53, for a total value of $112,151.61. Following the completion of the sale, the insider directly owned 155,856 shares in the company, valued at approximately $6,628,555.68. The trade was a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 616,431 shares of company stock worth $32,924,482 over the last 90 days. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ethic Inc. purchased a new stake in shares of Hims & Hers Health during the 2nd quarter valued at about $348,000. Lake Hills Wealth Management LLC purchased a new stake in shares of Hims & Hers Health during the second quarter valued at approximately $277,000. Intellectus Partners LLC acquired a new position in shares of Hims & Hers Health during the second quarter worth $3,043,000. Occidental Asset Management LLC acquired a new stake in Hims & Hers Health during the 2nd quarter valued at $305,000. Finally, Dakota Wealth Management purchased a new stake in Hims & Hers Health during the 2nd quarter worth $354,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.