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

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

A number of other analysts have also recently commented on HIMS. Needham & Company LLC upped their target price 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. BTIG Research started coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Canaccord Genuity Group upped their target price 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. Citigroup reaffirmed a “sell” rating and set a $27.00 target price on shares of Hims & Hers Health in a report on Thursday, March 6th. Finally, Truist Financial upped their target price on shares of Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Hims & Hers Health has a consensus rating of “Hold” and an average price target of $37.31.

Insider Buying and Selling

In related news, insider Michael Chi sold 7,259 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $24.07, for a total transaction of $174,724.13. Following the completion of the transaction, the insider now owns 193,601 shares in the company, valued at approximately $4,659,976.07. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the transaction, the insider now owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. This represents a 61.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,042,006 shares of company stock worth $36,830,024. 17.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new stake in Hims & Hers Health during the fourth quarter valued at $28,000. Raleigh Capital Management Inc. raised its stake in shares of Hims & Hers Health by 1,100.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,100 shares during the period. Blume Capital Management Inc. increased its stake in 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 buying an additional 600 shares during the period. Smartleaf Asset Management LLC increased its stake in Hims & Hers Health by 4,415.6% in the 4th 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 period. Finally, Summit Securities Group LLC purchased a new position in Hims & Hers Health in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Trading Up 2.2 %

The company has a market cap of $7.15 billion, a PE ratio of 73.13 and a beta of 1.37. The company’s 50 day moving average is $38.72 and its 200 day moving average is $28.49.

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 the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $481.14 million for the quarter, compared to the consensus estimate of $494.56 million. Analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

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.