Hims & Hers Health (NYSE:HIMS) Shares Gap Up Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) gapped up prior to trading on Monday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $38.00. The stock had previously closed at $32.22, but opened at $33.56. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health shares last traded at $32.50, with a volume of 4,352,900 shares changing hands.

A number of other brokerages have also recently weighed in on HIMS. Piper Sandler reiterated a “neutral” rating and set a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Needham & Company LLC started coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price for the company. TD Cowen restated a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their price target on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.43.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 11,609 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $14.60, for a total transaction of $169,491.40. Following the transaction, the chief financial officer now owns 181,469 shares of the company’s stock, valued at approximately $2,649,447.40. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total value of $38,593.50. Following the completion of the sale, the insider now directly owns 176,952 shares of the company’s stock, valued at $2,919,708. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,153,519 shares of company stock valued at $24,486,721. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quest Partners LLC raised its stake in shares of Hims & Hers Health by 22.6% during the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after purchasing an additional 807 shares during the last quarter. CWM LLC increased its stake in Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after buying an additional 1,054 shares during the period. Arizona State Retirement System raised its position in Hims & Hers Health by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock worth $815,000 after buying an additional 1,173 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Hims & Hers Health by 6.6% in the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after acquiring an additional 1,212 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after purchasing an additional 1,603 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Stock Performance

The company has a market cap of $6.97 billion, a price-to-earnings ratio of 76.64 and a beta of 1.06. The company has a 50-day simple moving average of $22.01 and a 200-day simple moving average of $19.90.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business’s revenue was up 77.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. As a group, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

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.