Hims & Hers Health (NYSE:HIMS) Stock Price Up 3.8% Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 3.8% on Monday after Bank of America raised their price target on the stock from $23.00 to $25.00. Bank of America currently has a buy rating on the stock. Hims & Hers Health traded as high as $23.06 and last traded at $22.99. 3,436,408 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 8,182,007 shares. The stock had previously closed at $22.15.

Several other research firms have also recently weighed in on HIMS. TD Cowen raised their target price on shares of Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group raised their target price on shares of Hims & Hers Health from $14.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Truist Financial raised their target price on shares of Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.21.

Insider Transactions at Hims & Hers Health

In other news, insider Michael Chi sold 7,500 shares of Hims & Hers Health stock in a transaction on Monday, October 21st. The stock was sold at an average price of $22.20, for a total transaction of $166,500.00. Following the completion of the sale, the insider now owns 193,980 shares of the company’s stock, valued at approximately $4,306,356. This trade represents a 0.00 % 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. In other news, insider Michael Chi sold 7,500 shares of Hims & Hers Health stock in a transaction on Monday, October 21st. The stock was sold at an average price of $22.20, for a total transaction of $166,500.00. Following the completion of the sale, the insider now owns 193,980 shares of the company’s stock, valued at approximately $4,306,356. This trade represents a 0.00 % 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, CFO Oluyemi Okupe sold 269,739 shares of Hims & Hers Health stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the sale, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 841,076 shares of company stock valued at $14,759,219. 17.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Hims & Hers Health by 1.0% in the first quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock valued at $221,379,000 after purchasing an additional 136,907 shares in the last quarter. Renaissance Technologies LLC grew its position in 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 acquiring an additional 3,205,108 shares during the last quarter. Farallon Capital Management LLC grew its position in Hims & Hers Health by 3,890.5% in the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after acquiring an additional 1,634,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in Hims & Hers Health by 67.5% in the second quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company’s stock valued at $13,701,000 after acquiring an additional 273,473 shares during the last quarter. Finally, M&G Plc bought a new position in Hims & Hers Health in the first quarter valued at about $8,232,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The stock has a 50-day simple moving average of $17.08 and a 200-day simple moving average of $17.67. The stock has a market cap of $5.07 billion, a P/E ratio of -2,359.00 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. The firm had revenue of $315.65 million for the quarter, compared to analysts’ expectations of $302.43 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 51.8% on a year-over-year basis. As a group, sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.22 earnings per share for the current 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.