Morgan Stanley Initiates Coverage on Hims & Hers Health (NYSE:HIMS)

Morgan Stanley initiated coverage on shares of Hims & Hers Health (NYSE:HIMS) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $42.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. Needham & Company LLC started coverage on Hims & Hers Health in a report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target for the company. Canaccord Genuity Group upped their price objective on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Piper Sandler reiterated a “neutral” rating and set a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Finally, TD Cowen restated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hims & Hers Health presently has an average rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Stock Performance

HIMS opened at $31.12 on Tuesday. The business’s 50-day simple moving average is $25.27 and its 200 day simple moving average is $21.14. Hims & Hers Health has a 52-week low of $8.09 and a 52-week high of $35.02. The firm has a market capitalization of $6.80 billion, a PE ratio of 70.73 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. During the same quarter in the prior year, the business posted ($0.04) EPS. The business’s revenue was up 77.1% compared to the same quarter last year. On average, research analysts forecast that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 12,651 shares of Hims & Hers Health stock in a transaction on Friday, September 20th. The stock was sold at an average price of $16.79, for a total value of $212,410.29. Following the completion of the transaction, the chief financial officer now directly owns 211,000 shares of the company’s stock, valued at $3,542,690. The trade was a 5.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Dudum sold 78,127 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $29.62, for a total value of $2,314,121.74. Following the sale, the chief executive officer now owns 109,956 shares of the company’s stock, valued at approximately $3,256,896.72. The trade was a 41.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,143,575 shares of company stock worth $27,724,979. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after buying an additional 1,603 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Hims & Hers Health by 5,944.1% during the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after acquiring an additional 3,507 shares during the period. CWM LLC boosted its position in shares of Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares in the last quarter. Van ECK Associates Corp bought a new position in Hims & Hers Health in the second quarter valued at approximately $111,000. Finally, Quarry LP raised its position in Hims & Hers Health by 91.0% during the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

About Hims & Hers Health

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.