Hims & Hers Health (NYSE:HIMS) Shares Up 10.4% After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares rose 10.4% during trading on Wednesday after Truist Financial raised their price target on the stock from $24.00 to $39.00. Truist Financial currently has a hold rating on the stock. Hims & Hers Health traded as high as $44.62 and last traded at $44.02. Approximately 19,761,520 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 20,935,512 shares. The stock had previously closed at $39.86.

Several other research firms also recently commented on HIMS. Canaccord Genuity Group upped their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. TD Cowen restated a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Leerink Partners lifted 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. Piper Sandler increased their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.47.

Insiders Place Their Bets

In related news, insider Michael Chi sold 7,259 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Soleil Boughton sold 4,152 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the sale, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,097,578 shares of company stock valued at $38,080,320 over the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several institutional investors have recently modified their holdings of HIMS. Crewe Advisors LLC acquired a new stake in shares of Hims & Hers Health during the fourth quarter worth $28,000. Raleigh Capital Management Inc. lifted its holdings in shares of Hims & Hers Health by 1,100.0% during the 4th 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 in the last quarter. Blume Capital Management Inc. boosted its position 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 purchasing an additional 600 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 valued at $36,000 after purchasing an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Hims & Hers Health in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Trading Up 10.4 %

The business has a 50 day simple moving average of $35.62 and a two-hundred day simple moving average of $26.25. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 100.07 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal 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.