Hims & Hers Health (NYSE:HIMS) Shares Up 10.4% After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price traded up 10.4% during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $24.00 to $39.00. Truist Financial currently has a hold rating on the stock. Hims & Hers Health traded as high as $44.62 and last traded at $44.02. 19,761,520 shares traded hands during trading, a decline of 6% from the average session volume of 20,935,512 shares. The stock had previously closed at $39.86.

A number of other equities research analysts have also recently issued reports on HIMS. Piper Sandler upped their price objective on Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday. Needham & Company LLC upped their price objective on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America boosted their target price on Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a report on Thursday, February 20th. TD Cowen reissued a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, BTIG Research started coverage on Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.71.

Insider Buying and Selling at Hims & Hers Health

In other news, CEO Andrew Dudum sold 33,513 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the sale, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $1,118,296.76. This represents a 50.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $251,984.88. Following the sale, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,097,578 shares of company stock valued at $38,080,320 in the last ninety days. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after buying an additional 2,020,722 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after buying an additional 8,364,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after buying an additional 1,562,302 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after buying an additional 4,145,305 shares during the last quarter. Finally, State Street Corp raised its position in Hims & Hers Health by 4.7% in the third quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after purchasing an additional 206,078 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Price Performance

The stock has a market capitalization of $9.02 billion, a P/E ratio of 93.85 and a beta of 1.35. The firm has a 50-day simple moving average of $36.19 and a 200 day simple moving average of $26.46.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $481.14 million during 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%. Sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

About Hims & Hers Health

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.