Hims & Hers Health (NYSE:HIMS) Trading 15.6% Higher – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price rose 15.6% during trading on Thursday . The company traded as high as $52.98 and last traded at $53.55. Approximately 6,673,221 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 11,526,705 shares. The stock had previously closed at $46.34.

Analyst Ratings Changes

HIMS has been the subject of a number of recent analyst reports. BTIG Research started coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Piper Sandler raised their price objective on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley started coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.13.

Hims & Hers Health Stock Performance

The stock’s 50-day moving average price is $32.06 and its 200-day moving average price is $24.26. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 137.31 and a beta of 1.35.

Insider Buying and Selling

In other Hims & Hers Health news, COO Melissa Baird sold 58,750 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $21.04, for a total transaction of $1,236,100.00. Following the sale, the chief operating officer now owns 630,166 shares in the company, valued at approximately $13,258,692.64. This represents a 8.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Dudum sold 33,513 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the completion of the transaction, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $1,118,296.76. This trade represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,111,554 shares of company stock valued at $33,865,763. 17.71% of the stock is owned by insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV boosted its stake in shares of Hims & Hers Health by 12.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 174,550 shares of the company’s stock worth $4,221,000 after purchasing an additional 18,819 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Hims & Hers Health during the fourth quarter worth approximately $551,000. Comerica Bank grew its stake in Hims & Hers Health by 6,515.1% in the 4th quarter. Comerica Bank now owns 66,746 shares of the company’s stock worth $1,614,000 after acquiring an additional 65,737 shares during the period. Utah Retirement Systems acquired a new position in Hims & Hers Health in the 4th quarter valued at $818,000. Finally, Northern Trust Corp raised its holdings in Hims & Hers Health by 17.9% in the 4th quarter. Northern Trust Corp now owns 2,038,202 shares of the company’s stock valued at $49,284,000 after acquiring an additional 308,886 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.