Hims & Hers Health (NYSE:HIMS) Trading 2.1% Higher After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares shot up 2.1% during trading on Wednesday after Bank of America raised their price target on the stock from $21.00 to $22.00. Bank of America currently has an underperform rating on the stock. Hims & Hers Health traded as high as $32.48 and last traded at $32.16. 4,084,887 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 13,527,909 shares. The stock had previously closed at $31.49.

Other research analysts also recently issued reports about the company. Needham & Company LLC boosted their target price on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Citigroup restated a “sell” rating and issued a $27.00 price objective on shares of Hims & Hers Health in a research report on Thursday, March 6th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Truist Financial boosted their price objective on shares of Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Finally, BTIG Research assumed coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.31.

Insider Buying and Selling at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 4,213 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $29.98, for a total value of $126,305.74. Following the completion of the transaction, the chief financial officer now owns 128,365 shares of the company’s stock, valued at $3,848,382.70. The trade was a 3.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Chi sold 17,303 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $27.97, for a total transaction of $483,964.91. Following the completion of the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at $5,415,019.97. This trade represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,015,547 shares of company stock worth $36,146,450. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Farallon Capital Management LLC boosted its stake in Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after purchasing an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after purchasing an additional 4,145,305 shares during the period. Vanguard Group Inc. boosted its stake in Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after purchasing an additional 2,020,722 shares during the period. Yong Rong HK Asset Management Ltd acquired a new position in Hims & Hers Health in the 4th quarter worth $41,104,000. Finally, Renaissance Technologies LLC boosted its stake in Hims & Hers Health by 29.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares during the period. 63.52% of the stock is owned by institutional investors and hedge funds.

Hims & Hers Health Trading Down 3.0 %

The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 74.67 and a beta of 1.37. The stock’s 50 day moving average is $39.02 and its two-hundred day moving average is $28.55.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. On average, research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.