Hims & Hers Health (NYSE:HIMS) Price Target Raised to $68.00

Hims & Hers Health (NYSE:HIMS) had its price objective raised by Canaccord Genuity Group from $38.00 to $68.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on HIMS. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Morgan Stanley cut Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $42.00 to $60.00 in a report on Tuesday. TD Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised 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 raised their price target on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.53.

Hims & Hers Health Trading Down 26.1 %

Shares of HIMS opened at $49.10 on Wednesday. Hims & Hers Health has a 1 year low of $9.25 and a 1 year high of $72.98. The stock has a 50 day simple moving average of $35.05 and a 200-day simple moving average of $25.70. The stock has a market cap of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 128,127 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the transaction, the chief executive officer now directly owns 97,687 shares in the company, valued at $5,692,221.49. This trade represents a 56.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Melissa Baird sold 85,561 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $31.01, for a total value of $2,653,246.61. Following the completion of the transaction, the chief operating officer now owns 630,986 shares in the company, valued at $19,566,875.86. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,184,611 shares of company stock worth $40,338,442 in the last three months. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SlateStone Wealth LLC raised its stake in Hims & Hers Health by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock worth $257,000 after buying an additional 413 shares during the period. Blume Capital Management Inc. raised its stake in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 600 shares during the period. Summit Investment Advisors Inc. raised its stake in Hims & Hers Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock worth $480,000 after buying an additional 628 shares during the period. Quest Partners LLC raised its stake in Hims & Hers Health by 22.6% during the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after buying an additional 807 shares during the period. Finally, Harbour Investments Inc. raised its stake in Hims & Hers Health by 18.8% during the 4th quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock worth $127,000 after buying an additional 833 shares during the period. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Company Profile

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.