Hims & Hers Health (NYSE:HIMS) Sees Unusually-High Trading Volume on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) saw unusually-strong trading volume on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $23.00 to $27.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Approximately 21,144,631 shares traded hands during mid-day trading, an increase of 148% from the previous session’s volume of 8,532,059 shares.The stock last traded at $23.74 and had previously closed at $20.64.

A number of other analysts have also weighed in on the stock. Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective for the company. Piper Sandler restated a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday. Bank of America increased their target price on Hims & Hers Health from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Canaccord Genuity Group boosted their price target on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, TD Cowen increased their price objective on Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Buying and Selling

In other Hims & Hers Health news, insider Soleil Boughton sold 2,345 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.65, for a total value of $34,354.25. Following the transaction, the insider now directly owns 159,796 shares in the company, valued at approximately $2,341,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hims & Hers Health news, insider Patrick Harrison Carroll sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $22.07, for a total value of $331,050.00. Following the completion of the transaction, the insider now directly owns 196,941 shares in the company, valued at $4,346,487.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Soleil Boughton sold 2,345 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.65, for a total transaction of $34,354.25. Following the sale, the insider now owns 159,796 shares in the company, valued at $2,341,011.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 854,547 shares of company stock valued at $15,987,230. 17.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently bought and sold shares of the business. Quest Partners LLC boosted its stake in shares of Hims & Hers Health by 22.6% in the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after acquiring an additional 807 shares during the period. CWM LLC grew its holdings in Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after buying an additional 1,054 shares in the last quarter. Arizona State Retirement System raised its position in shares of Hims & Hers Health by 3.0% during the second quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock valued at $815,000 after buying an additional 1,173 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Hims & Hers Health by 6.6% in 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 in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after acquiring an additional 1,603 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Up 0.9 %

The company has a market capitalization of $5.07 billion, a PE ratio of 54.80 and a beta of 1.06. The company’s 50 day moving average is $18.40 and its two-hundred day moving average is $18.29.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a return on equity of 11.67% and a net margin of 8.19%. The firm had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue was up 77.1% compared to the same quarter last year. Analysts forecast that Hims & Hers Health, Inc. will post 0.22 EPS 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.