Hims & Hers Health (NYSE:HIMS) Price Target Raised to $31.00 at Needham & Company LLC

Hims & Hers Health (NYSE:HIMS) had its price objective upped by Needham & Company LLC from $28.00 to $31.00 in a research report released on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms have also recently issued reports on HIMS. TD Cowen restated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Canaccord Genuity Group increased their price objective on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley started coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Piper Sandler reissued a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.07.

Hims & Hers Health Stock Up 0.7 %

NYSE:HIMS opened at $26.82 on Monday. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 60.96 and a beta of 1.31. The company’s 50 day moving average price is $26.73 and its 200-day moving average price is $21.53. Hims & Hers Health has a 52 week low of $8.14 and a 52 week high of $35.02.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company’s quarterly revenue 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, sell-side analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 269,739 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the transaction, the chief financial officer now owns 145,763 shares of the company’s stock, valued at approximately $2,960,446.53. The trade was a 64.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.41, for a total transaction of $47,738.99. Following the transaction, the insider now directly owns 172,274 shares of the company’s stock, valued at $3,516,112.34. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,064,514 shares of company stock valued at $26,712,334 over the last 90 days. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HIMS. Renaissance Technologies LLC grew 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 valued at $121,936,000 after purchasing an additional 3,205,108 shares in the last quarter. Wellington Management Group LLP lifted its position in Hims & Hers Health by 34.5% during the third 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. Geode Capital Management LLC increased its holdings in shares of Hims & Hers Health by 12.7% in the 3rd 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Hims & Hers Health by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after acquiring an additional 328,142 shares during the last quarter. Finally, Carnegie Investment Counsel bought a new stake in Hims & Hers Health during the third quarter worth approximately $5,531,000. Institutional investors own 63.52% of the company’s stock.

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.