Hims & Hers Health (NYSE:HIMS) Shares Up 9.1% on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares rose 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 traded hands during mid-day trading, a decline of 16% from the average daily volume of 21,522,248 shares. The stock had previously closed at $41.89.

HIMS has been the topic of a number of other research reports. Needham & Company LLC lifted their target price on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday. BTIG Research initiated coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. TD Cowen restated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Citigroup upped their target price on Hims & Hers Health from $25.00 to $27.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, Bank of America increased their target price on Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.47.

Insiders Place Their Bets

In related news, 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 transaction, the insider now owns 193,601 shares in the company, valued at $9,319,952.14. This represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Soleil Boughton sold 4,152 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 owns 157,345 shares in the company, valued at $9,549,268.05. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,097,578 shares of company stock valued at $38,080,320. Corporate insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

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

Hims & Hers Health Stock Performance

The stock has a fifty day moving average of $35.89 and a 200 day moving average of $26.36. The company has a market capitalization of $9.83 billion, a P/E ratio of 101.19 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share 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 analysts’ expectations of $494.56 million. Research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal 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.