Hims & Hers Health (NYSE:HIMS) Shares Gap Up Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Monday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $38.00. The stock had previously closed at $32.22, but opened at $33.56. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health shares last traded at $32.50, with a volume of 4,352,900 shares trading hands.

A number of other brokerages also recently commented on HIMS. Needham & Company LLC began coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Finally, Piper Sandler restated a “neutral” rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health currently has an average rating of “Hold” and an average target price of $21.43.

Insider Activity at Hims & Hers Health

In related news, CEO Andrew Dudum sold 45,767 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $16.33, for a total transaction of $747,375.11. Following the completion of the transaction, the chief executive officer now directly owns 67,015 shares of the company’s stock, valued at $1,094,354.95. The trade was a 40.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the sale, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 974,495 shares of company stock worth $22,548,139. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently modified their holdings of HIMS. Sanctuary Advisors LLC grew its stake in shares of Hims & Hers Health by 26.8% during the third quarter. Sanctuary Advisors LLC now owns 26,057 shares of the company’s stock worth $480,000 after purchasing an additional 5,505 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Hims & Hers Health during the 3rd quarter worth about $1,252,000. Geode Capital Management LLC boosted its position in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after acquiring an additional 482,177 shares in the last quarter. Barclays PLC increased its holdings in shares of Hims & Hers Health by 9.7% in the 3rd quarter. Barclays PLC now owns 308,363 shares of the company’s stock valued at $5,680,000 after acquiring an additional 27,231 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Hims & Hers Health by 312.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 134,018 shares of the company’s stock worth $2,469,000 after acquiring an additional 101,536 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Price Performance

The firm has a 50 day moving average of $22.30 and a two-hundred day moving average of $20.06. The stock has a market cap of $7.04 billion, a PE ratio of 73.21 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, equities 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 platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.