Canaccord Genuity Group Raises Hims & Hers Health (NYSE:HIMS) Price Target to $38.00

Hims & Hers Health (NYSE:HIMS) had its price objective increased by equities research analysts at Canaccord Genuity Group from $28.00 to $38.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 17.90% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price for the company. 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. Finally, TD Cowen reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.43.

Hims & Hers Health Trading Up 4.5 %

Shares of Hims & Hers Health stock opened at $32.23 on Monday. Hims & Hers Health has a 12 month low of $8.09 and a 12 month high of $35.02. The firm has a market capitalization of $7.04 billion, a P/E ratio of 73.21 and a beta of 1.25. The business has a fifty day simple moving average of $22.30 and a two-hundred day simple moving average of $20.06.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $382.20 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Hims & Hers Health’s quarterly revenue was up 77.1% on a year-over-year basis. Analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 45,767 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $16.33, for a total value of $747,375.11. Following the transaction, the chief executive officer now owns 67,015 shares of the company’s stock, valued at $1,094,354.95. This trade represents a 40.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total value of $68,932.24. Following the transaction, the insider now owns 184,947 shares of the company’s stock, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 974,495 shares of company stock worth $22,548,139 in the last quarter. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HIMS. Renaissance Technologies LLC lifted its holdings in shares of Hims & Hers Health by 113.1% in the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after buying an additional 3,205,108 shares in the last quarter. State Street Corp lifted its stake in shares of Hims & Hers Health by 4.7% in the 3rd 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. Geode Capital Management LLC boosted its stake in Hims & Hers Health by 12.7% during the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after buying an additional 482,177 shares during the period. Wellington Management Group LLP grew its holdings in Hims & Hers Health by 34.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after purchasing an additional 883,230 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Hims & Hers Health by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock valued at $30,714,000 after buying an additional 218,566 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.