Hims & Hers Health (NYSE:HIMS) Cut to "Sell" at Citigroup

Citigroup downgraded shares of Hims & Hers Health (NYSE:HIMS - Free Report) from a neutral rating to a sell rating in a report published on Friday, MarketBeat Ratings reports. Citigroup currently has $25.00 price target on the stock, up from their previous price target of $24.00.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group raised their price target on Hims & Hers Health from $28.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. Needham & Company LLC lifted their price objective on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler raised their target price on Hims & Hers Health from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Monday. Finally, Bank of America downgraded Hims & Hers Health from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Hims & Hers Health currently has a consensus rating of "Hold" and an average target price of $25.13.

Hims & Hers Health Price Performance

NYSE HIMS traded down $0.32 on Friday, hitting $25.41. 9,224,298 shares of the company were exchanged, compared to its average volume of 9,547,191. The firm has a market capitalization of $5.55 billion, a P/E ratio of 57.75 and a beta of 1.31. Hims & Hers Health has a twelve month low of $8.14 and a twelve month high of $35.02. The company's 50 day moving average price is $27.21 and its 200-day moving average price is $21.65.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. During the same quarter last year, the business posted ($0.04) EPS. The company's revenue for the quarter was up 77.1% on a year-over-year basis. As a group, equities analysts expect that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Activity

In other news, insider Soleil Boughton sold 2,339 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $20.41, for a total value of $47,738.99. Following the completion of the transaction, the insider now directly owns 172,274 shares of the company's stock, valued at approximately $3,516,112.34. This represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the sale, the chief financial officer now directly owns 145,763 shares in the company, valued at approximately $2,960,446.53. This represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,333,446 shares of company stock worth $34,175,197. Company insiders own 17.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Hims & Hers Health by 2,173.7% in the 4th quarter. GAMMA Investing LLC now owns 2,251 shares of the company's stock valued at $54,000 after buying an additional 2,152 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Hims & Hers Health by 102.0% during the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company's stock worth $5,349,000 after buying an additional 146,621 shares during the period. Sanctuary Advisors LLC increased its stake in Hims & Hers Health by 26.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 26,057 shares of the company's stock worth $480,000 after acquiring an additional 5,505 shares during the period. Neo Ivy Capital Management bought a new position in Hims & Hers Health in the third quarter valued at about $1,252,000. Finally, Geode Capital Management LLC raised its position in Hims & Hers Health by 12.7% in the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company's stock valued at $79,029,000 after purchasing an additional 482,177 shares during the last quarter. 63.52% of the stock is owned by institutional investors.

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.