Hims & Hers Health (NYSE:HIMS) Coverage Initiated by Analysts at BTIG Research

Research analysts at BTIG Research started coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 35.98% from the company’s previous close.

Several other research analysts also recently weighed in on HIMS. Needham & Company LLC lifted their target price on Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen reissued a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Canaccord Genuity Group raised their target price on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler lifted their price objective on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.80.

Hims & Hers Health Price Performance

Shares of Hims & Hers Health stock opened at $25.74 on Tuesday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 58.50 and a beta of 1.31. The firm’s fifty day simple moving average is $26.97 and its 200-day simple moving average is $21.59. Hims & Hers Health has a 12 month low of $8.14 and a 12 month high of $35.02.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned ($0.04) earnings per share. The business’s revenue was up 77.1% compared to the same quarter last year. Analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Hims & Hers Health

In related news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the completion of the sale, the chief executive officer now owns 67,015 shares in the company, valued at approximately $1,399,273.20. This trade represents a 73.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the transaction, the insider now directly owns 184,947 shares of the company’s stock, valued at $6,206,821.32. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,333,446 shares of company stock worth $34,175,197. 17.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Hims & Hers Health by 763.4% during the second quarter. Principal Financial Group Inc. now owns 143,793 shares of the company’s stock worth $2,903,000 after acquiring an additional 127,138 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Hims & Hers Health during the second quarter worth $479,000. Van ECK Associates Corp purchased a new stake in shares of Hims & Hers Health in the second quarter valued at $111,000. Rhumbline Advisers increased its stake in Hims & Hers Health by 50.1% in the second quarter. Rhumbline Advisers now owns 268,420 shares of the company’s stock valued at $5,419,000 after purchasing an additional 89,535 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Hims & Hers Health by 6.6% during the second quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after buying an additional 1,212 shares during the period. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

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.