Hims & Hers Health (NYSE:HIMS) Hits New 52-Week High Following Analyst Upgrade

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) reached a new 52-week high on Monday after TD Cowen raised their price target on the stock from $25.00 to $28.00. TD Cowen currently has a buy rating on the stock. Hims & Hers Health traded as high as $26.49 and last traded at $25.90, with a volume of 2347831 shares traded. The stock had previously closed at $23.41.

Other analysts have also issued reports about the stock. Piper Sandler restated a “neutral” rating and set a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Bank of America upped their target price on shares of Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Needham & Company LLC started coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price on the stock. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group upped their price target on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.21.

Insider Activity

In other news, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the completion of the sale, the chief financial officer now owns 145,763 shares in the company, valued at $2,960,446.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total transaction of $38,593.50. Following the completion of the sale, the insider now owns 176,952 shares in the company, valued at $2,919,708. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the sale, the chief financial officer now owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 854,547 shares of company stock valued at $15,987,230. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Intech Investment Management LLC purchased a new position in Hims & Hers Health in the third quarter worth $1,064,000. Quest Partners LLC raised its position in Hims & Hers Health by 22.6% in the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after acquiring an additional 807 shares in the last quarter. Royce & Associates LP raised its position in Hims & Hers Health by 17.0% in the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after acquiring an additional 49,500 shares in the last quarter. Victory Capital Management Inc. raised its position in Hims & Hers Health by 164.9% in the third quarter. Victory Capital Management Inc. now owns 51,577 shares of the company’s stock worth $950,000 after acquiring an additional 32,108 shares in the last quarter. Finally, WealthPlan Investment Management LLC purchased a new position in Hims & Hers Health in the third quarter worth $1,042,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The company has a 50-day simple moving average of $19.01 and a 200-day simple moving average of $18.60. The stock has a market cap of $5.99 billion, a PE ratio of 63.38 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) earnings per share. On average, equities analysts expect that Hims & Hers Health, Inc. will post 0.25 EPS for the current fiscal 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.