Citigroup Lowers Hims & Hers Health (NYSE:HIMS) to Neutral

Citigroup cut shares of Hims & Hers Health (NYSE:HIMS) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has $20.00 target price on the stock, up from their prior target price of $16.00.

A number of other research firms also recently weighed in on HIMS. Canaccord Genuity Group assumed coverage on shares of Hims & Hers Health in a research note on Wednesday, April 10th. They set a buy rating and a $20.00 price target on the stock. Seaport Res Ptn reissued a buy rating on shares of Hims & Hers Health in a research note on Friday, April 26th. Imperial Capital raised Hims & Hers Health from an in-line rating to an outperform rating and set a $16.00 price objective on the stock in a report on Wednesday, February 28th. Truist Financial increased their target price on Hims & Hers Health from $10.00 to $13.00 and gave the stock a hold rating in a report on Tuesday, February 27th. Finally, Leerink Partnrs reaffirmed a market perform rating on shares of Hims & Hers Health in a research note on Monday, February 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $15.69.

Hims & Hers Health Stock Performance

Shares of HIMS opened at $16.88 on Wednesday. The company has a 50-day simple moving average of $14.16 and a 200-day simple moving average of $11.14. The firm has a market capitalization of $3.63 billion, a P/E ratio of -1,688.00 and a beta of 0.97. Hims & Hers Health has a 52 week low of $5.65 and a 52 week high of $20.11.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. The firm had revenue of $278.20 million for the quarter, compared to analyst estimates of $270.37 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, equities analysts forecast that Hims & Hers Health will post 0.18 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In related news, insider Irene Becklund sold 2,747 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $12.08, for a total value of $33,183.76. Following the completion of the transaction, the insider now owns 5,494 shares in the company, valued at approximately $66,367.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Soleil Boughton sold 63,621 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $15.17, for a total value of $965,130.57. Following the transaction, the insider now owns 154,345 shares of the company’s stock, valued at approximately $2,341,413.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Irene Becklund sold 2,747 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $12.08, for a total transaction of $33,183.76. Following the sale, the insider now owns 5,494 shares of the company’s stock, valued at approximately $66,367.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 594,553 shares of company stock worth $8,454,738. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently bought and sold shares of HIMS. FNY Investment Advisers LLC acquired a new position in shares of Hims & Hers Health in the 4th quarter valued at $48,000. Belpointe Asset Management LLC acquired a new position in Hims & Hers Health in the third quarter valued at about $76,000. EMC Capital Management boosted its holdings in Hims & Hers Health by 80.0% during the third quarter. EMC Capital Management now owns 12,000 shares of the company’s stock worth $79,000 after buying an additional 5,332 shares during the last quarter. Certuity LLC acquired a new position in shares of Hims & Hers Health during the 4th quarter worth about $109,000. Finally, Corton Capital Inc. bought a new stake in shares of Hims & Hers Health in the 3rd quarter valued at about $122,000. 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.