Hims & Hers Health (NYSE:HIMS) Stock Price Up 6.6% on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares were up 6.6% during trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $38.00. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health traded as high as $33.24 and last traded at $32.88. Approximately 1,975,003 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 9,794,257 shares. The stock had previously closed at $30.85.

A number of other equities analysts also recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Needham & Company LLC initiated coverage on Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Piper Sandler reissued a “neutral” rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.43.

Insider Buying and Selling

In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of the 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 transaction, the insider now owns 176,952 shares of the company’s stock, valued at $2,919,708. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Chi sold 2,054 shares of Hims & Hers Health stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total value of $68,932.24. Following the completion of the transaction, the insider now owns 184,947 shares of the company’s stock, valued at approximately $6,206,821.32. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 974,495 shares of company stock worth $22,548,139. 17.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds have recently added to or reduced their stakes in HIMS. Price T Rowe Associates Inc. MD boosted its holdings in shares of Hims & Hers Health by 239.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 168,427 shares of the company’s stock valued at $2,606,000 after buying an additional 118,848 shares during the period. Cetera Advisors LLC acquired a new position in Hims & Hers Health in the first quarter valued at approximately $396,000. Gunderson Capital Management Inc. bought a new position in shares of Hims & Hers Health during the second quarter valued at approximately $1,836,000. QRG Capital Management Inc. acquired a new stake in shares of Hims & Hers Health during the 2nd quarter worth approximately $3,149,000. Finally, SG Americas Securities LLC bought a new stake in shares of Hims & Hers Health in the 2nd quarter worth approximately $2,223,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Trading Up 4.5 %

The stock has a 50-day moving average of $22.30 and a 200-day moving average of $20.06. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 73.21 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. As a group, research analysts expect 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 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.