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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price 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 analysts also recently weighed in on the stock. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. TD Cowen reissued a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Hims & Hers Health has an average rating of “Hold” and a consensus target price of $21.43.

Insider Buying and Selling

In other Hims & Hers Health news, COO Melissa Baird sold 11,749 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.65, for a total value of $172,122.85. Following the completion of the sale, the chief operating officer now owns 585,800 shares in the company, valued at approximately $8,581,970. This trade represents a 1.97 % decrease in their position. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $16.50, for a total transaction of $38,593.50. Following the completion of the transaction, the insider now directly owns 176,952 shares of the company’s stock, valued at approximately $2,919,708. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 950,677 shares of company stock worth $21,532,666 in the last quarter. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in Hims & Hers Health by 679.2% during the second 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 during the period. Quest Partners LLC grew its holdings in Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after purchasing an additional 3,507 shares during the period. CWM LLC grew its holdings in Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the period. Van ECK Associates Corp acquired a new position in Hims & Hers Health during the second quarter valued at approximately $111,000. Finally, Quarry LP grew its holdings in Hims & Hers Health by 91.0% during the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Stock Down 4.2 %

The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 71.77 and a beta of 1.06. The stock’s fifty day moving average is $22.01 and its 200-day moving average is $19.94.

Hims & Hers Health (NYSE:HIMS) last announced 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. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was up 77.1% on a year-over-year basis. As a group, equities research analysts predict 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 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.