Hims & Hers Health (NYSE:HIMS) Stock Price Expected to Rise, Bank of America Analyst Says

Hims & Hers Health (NYSE:HIMS) had its target price raised by stock analysts at Bank of America from $21.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would suggest a potential downside of 36.56% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Piper Sandler upped their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Leerink Partners increased their target price on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Citigroup reaffirmed a “sell” rating and issued a $27.00 price target on shares of Hims & Hers Health in a report on Thursday, March 6th. TD Cowen reiterated a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Needham & Company LLC lifted their target price on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.31.

Hims & Hers Health Price Performance

Shares of HIMS stock opened at $34.68 on Tuesday. The firm has a fifty day moving average of $38.64 and a two-hundred day moving average of $28.37. The firm has a market cap of $7.70 billion, a P/E ratio of 78.82 and a beta of 1.37. Hims & Hers Health has a 1-year low of $11.20 and a 1-year high of $72.98.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results 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 return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. On average, sell-side analysts expect that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 11,581 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $24.44, for a total value of $283,039.64. Following the completion of the sale, the chief financial officer now directly owns 118,077 shares of the company’s stock, valued at approximately $2,885,801.88. This represents a 8.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Chi sold 17,303 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $48.14, for a total transaction of $832,966.42. Following the completion of the transaction, the insider now owns 193,601 shares of the company’s stock, valued at $9,319,952.14. This trade represents a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 890,592 shares of company stock worth $31,677,291 in the last three months. 17.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC bought a new stake in shares of Hims & Hers Health in the 4th quarter worth $28,000. Raleigh Capital Management Inc. grew its stake in shares of Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,100 shares during the last quarter. Blume Capital Management Inc. raised its holdings in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 600 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Hims & Hers Health by 4,415.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in Hims & Hers Health during the fourth quarter worth approximately $38,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.