Hims & Hers Health (NYSE:HIMS) Stock Rating Lowered by Morgan Stanley

Hims & Hers Health (NYSE:HIMS - Get Free Report) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report released on Tuesday, Marketbeat reports. They currently have a $60.00 target price on the stock, up from their previous target price of $42.00. Morgan Stanley's target price would suggest a potential upside of 22.21% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group upped 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. Citigroup cut Hims & Hers Health from a "neutral" rating to a "sell" rating and upped their price target for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Piper Sandler upped their price target on Hims & Hers Health from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price target on Hims & Hers Health from $23.00 to $27.00 and gave the stock a "hold" rating in a research note on Wednesday, November 6th. Finally, Needham & Company LLC upped their price target on Hims & Hers Health from $28.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of "Hold" and an average target price of $28.53.

Hims & Hers Health Stock Performance

Shares of Hims & Hers Health stock traded down $17.32 during midday trading on Tuesday, reaching $49.10. 88,654,898 shares of the company's stock traded hands, compared to its average volume of 17,960,670. The company has a market cap of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35. The stock has a 50 day moving average of $35.05 and a 200-day moving average of $25.70. Hims & Hers Health has a 12 month low of $9.25 and a 12 month high of $72.98.

Insider Transactions at Hims & Hers Health

In related news, insider Soleil Boughton sold 4,152 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the sale, the insider now directly owns 157,345 shares of the company's stock, valued at $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the sale, the chief executive officer now directly owns 97,687 shares in the company, valued at $5,692,221.49. This trade represents a 56.74 % 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. Insiders own 17.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently modified their holdings of the business. CWM LLC lifted its holdings in Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company's stock valued at $110,000 after acquiring an additional 1,054 shares during the period. Creative Planning lifted its holdings in Hims & Hers Health by 18.1% in the third quarter. Creative Planning now owns 25,925 shares of the company's stock valued at $478,000 after acquiring an additional 3,979 shares during the period. Venture Visionary Partners LLC bought a new position in Hims & Hers Health in the third quarter valued at about $238,000. Lake Street Private Wealth LLC lifted its holdings in Hims & Hers Health by 80.3% in the third quarter. Lake Street Private Wealth LLC now owns 103,447 shares of the company's stock valued at $1,905,000 after acquiring an additional 46,076 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Hims & Hers Health in the third quarter valued at about $6,790,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.