Hims & Hers Health (NYSE:HIMS) Cut to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of Hims & Hers Health (NYSE:HIMS) from an overweight rating to an equal weight rating in a research note issued to investors on Tuesday, Marketbeat reports. Morgan Stanley currently has $60.00 price objective on the stock, up from their prior price objective of $42.00.

Several other equities analysts also recently issued reports on HIMS. Citigroup downgraded shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their price target for the company from $24.00 to $25.00 in a report on Friday, January 10th. Piper Sandler raised their price objective on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. TD Cowen reiterated a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Needham & Company LLC lifted their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.53.

Hims & Hers Health Price Performance

NYSE HIMS opened at $66.28 on Tuesday. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 150.64 and a beta of 1.35. The company’s fifty day moving average is $34.66 and its two-hundred day moving average is $25.48. Hims & Hers Health has a 52-week low of $9.22 and a 52-week high of $72.98.

Insiders Place Their Bets

In related news, insider Soleil Boughton sold 2,343 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total value of $70,055.70. Following the transaction, the insider now directly owns 165,254 shares in the company, valued at approximately $4,941,094.60. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Oluyemi Okupe sold 101,993 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $29.62, for a total transaction of $3,021,032.66. Following the completion of the transaction, the chief financial officer now owns 109,392 shares in the company, valued at $3,240,191.04. This trade represents a 48.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,184,611 shares of company stock valued at $40,338,442. 17.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HIMS. Crewe Advisors LLC bought a new position in Hims & Hers Health in the 4th quarter valued at approximately $28,000. Raleigh Capital Management Inc. raised its holdings in Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,100 shares during the last quarter. Blume Capital Management Inc. increased its position in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 600 shares during the period. Smartleaf Asset Management LLC increased its position in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after purchasing an additional 1,413 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in Hims & Hers Health during the 4th quarter valued at approximately $38,000. Institutional investors own 63.52% of the company’s stock.

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.