Hims & Hers Health (NYSE:HIMS) Stock Price Up 10.6% Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price rose 10.6% 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 $44.42 and last traded at $44.07. Approximately 13,241,704 shares traded hands during trading, a decline of 36% from the average daily volume of 20,698,469 shares. The stock had previously closed at $39.86.

HIMS has been the subject of several other reports. Piper Sandler boosted their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday. BTIG Research assumed coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Bank of America raised their price target on Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a research note on Thursday, February 20th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Citigroup increased their target price on Hims & Hers Health from $25.00 to $27.00 and gave the company a “sell” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.47.

Insiders Place Their Bets

In other Hims & Hers Health news, CEO Andrew Dudum sold 33,513 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.38, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Soleil Boughton sold 4,152 shares of the stock in a transaction dated 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 $9,549,268.05. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,097,578 shares of company stock valued at $38,080,320. 17.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Hims & Hers Health during the 4th quarter worth approximately $200,000. Mackenzie Financial Corp grew its position in Hims & Hers Health by 44.6% during the fourth quarter. Mackenzie Financial Corp now owns 29,096 shares of the company’s stock valued at $704,000 after buying an additional 8,977 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Hims & Hers Health in the fourth quarter valued at $99,000. Neo Ivy Capital Management increased its holdings in Hims & Hers Health by 145.4% in the fourth quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock valued at $4,031,000 after buying an additional 98,798 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new position in shares of Hims & Hers Health in the fourth quarter worth about $234,000. 63.52% of the stock is owned by institutional investors and hedge funds.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $9.57 billion, a PE ratio of 99.87 and a beta of 1.35. The firm’s 50 day moving average price is $35.62 and its 200-day moving average price is $26.25.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company 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%. On average, equities research analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal 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.