Hims & Hers Health (NYSE:HIMS) Stock Price Up 2.1% Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price traded up 2.1% during mid-day 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 trading, a decline of 70% from the average session volume of 13,527,909 shares. The stock had previously closed at $31.49.

Several other brokerages have also recently weighed in on HIMS. Leerink Partners boosted their price objective on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 25th. Canaccord Genuity Group upped their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC upped their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. TD Cowen reiterated a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Piper Sandler upped their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.31.

Insider Buying and Selling at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 11,581 shares of Hims & Hers Health stock in a transaction 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 transaction, the chief financial officer now owns 118,077 shares in the company, valued at $2,885,801.88. This trade represents a 8.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Chi sold 7,500 shares of Hims & Hers Health stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $26.00, for a total transaction of $195,000.00. Following the completion of the transaction, the insider now owns 193,601 shares in the company, valued at approximately $5,033,626. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,042,006 shares of company stock valued at $36,830,024 in the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in Hims & Hers Health in the 4th quarter worth $28,000. Raleigh Capital Management Inc. boosted its stake in Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 1,100 shares in the last quarter. Blume Capital Management Inc. boosted its stake in Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 600 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Hims & Hers Health by 4,415.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after buying an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in Hims & Hers Health in the fourth quarter worth about $38,000. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Up 2.2 %

The firm has a market capitalization of $7.15 billion, a PE ratio of 73.13 and a beta of 1.37. The firm’s fifty day simple moving average is $38.72 and its 200-day simple moving average is $28.49.

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

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.