Hims & Hers Health (NYSE:HIMS) Trading 2.1% Higher After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 2.1% during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $21.00 to $22.00. Bank of America currently has an underperform rating on the stock. Hims & Hers Health traded as high as $32.48 and last traded at $32.16. 4,084,887 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 13,527,909 shares. The stock had previously closed at $31.49.

Several other analysts also recently issued reports on HIMS. Citigroup restated a “sell” rating and issued a $27.00 price objective on shares of Hims & Hers Health in a research report on Thursday, March 6th. TD Cowen restated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Piper Sandler upped their price objective on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Needham & Company LLC upped their price objective on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.31.

Insider Transactions at Hims & Hers Health

In other news, insider Soleil Boughton sold 268,932 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the sale, the insider now owns 169,803 shares of the company’s stock, valued at $4,712,033.25. This trade represents a 61.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Dudum sold 36,460 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $27.09, for a total value of $987,701.40. Following the completion of the sale, the chief executive officer now directly owns 27,918 shares of the company’s stock, valued at approximately $756,298.62. This trade represents a 56.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,015,547 shares of company stock worth $36,146,450. 17.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in shares of Hims & Hers Health by 18.8% during the fourth quarter. California State Teachers Retirement System now owns 166,337 shares of the company’s stock worth $4,022,000 after acquiring an additional 26,363 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Hims & Hers Health during the fourth quarter valued at about $213,000. IronOak Wealth LLC. bought a new position in Hims & Hers Health during the fourth quarter valued at about $922,000. Kilter Group LLC bought a new position in Hims & Hers Health during the fourth quarter valued at about $1,053,000. Finally, Cim LLC increased its stake in shares of Hims & Hers Health by 1.0% in the fourth quarter. Cim LLC now owns 71,869 shares of the company’s stock worth $1,738,000 after purchasing an additional 694 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The business has a 50 day moving average price of $39.02 and a 200 day moving average price of $28.55. The firm has a market capitalization of $7.30 billion, a P/E ratio of 74.67 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $481.14 million for the quarter, compared to the consensus estimate of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. As a group, equities analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

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.