Hims & Hers Health (NYSE:HIMS) Trading 9.1% Higher Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares were up 9.1% on Thursday 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 $45.39 and last traded at $45.70. Approximately 18,010,189 shares were traded during trading, a decline of 16% from the average daily volume of 21,522,248 shares. The stock had previously closed at $41.89.

Several other research analysts have also recently issued reports on HIMS. Citigroup raised their target price on Hims & Hers Health from $25.00 to $27.00 and gave the stock a “sell” rating in a research report on Tuesday. Piper Sandler boosted their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. BTIG Research began coverage on Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target for the company. Finally, Canaccord Genuity Group boosted their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Hims & Hers Health has a consensus rating of “Hold” and an average price target of $35.71.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 268,932 shares of the 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 sale, the insider now owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. This trade represents a 61.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Chi sold 17,303 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $48.14, for a total value of $832,966.42. Following the completion of the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $9,319,952.14. The trade was 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 1,097,578 shares of company stock worth $38,080,320 over the last quarter. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several hedge funds have recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter worth about $28,000. Raleigh Capital Management Inc. lifted its stake in shares of 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 buying an additional 1,100 shares during the period. Blume Capital Management Inc. grew its holdings in shares of Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 600 shares during the last quarter. Smartleaf Asset Management LLC raised 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 acquiring an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Hims & Hers Health during the 4th quarter worth about $38,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Stock Performance

The company has a 50 day simple moving average of $36.19 and a two-hundred day simple moving average of $26.46. The firm has a market cap of $9.53 billion, a PE ratio of 99.74 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating 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 firm had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. As a group, research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share 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.