Hims & Hers Health (NYSE:HIMS) Hits New 1-Year High – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price reached a new 52-week high on Thursday . The company traded as high as $44.43 and last traded at $42.12, with a volume of 17307987 shares changing hands. The stock had previously closed at $41.85.

Wall Street Analysts Forecast Growth

HIMS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler boosted their target price on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Morgan Stanley assumed coverage on Hims & Hers Health in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price target on the stock. Canaccord Genuity Group increased their price target on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their target price for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and a consensus target price of $25.13.

Hims & Hers Health Stock Up 5.1 %

The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 96.64 and a beta of 1.35. The stock has a fifty day moving average price of $30.22 and a two-hundred day moving average price of $23.27.

Insider Activity at Hims & Hers Health

In related news, CEO Andrew Dudum sold 33,513 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.38, for a total value of $1,118,663.94. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Melissa Baird sold 58,750 shares of Hims & Hers Health stock in a transaction on Monday, November 18th. The shares were sold at an average price of $21.04, for a total transaction of $1,236,100.00. Following the completion of the transaction, the chief operating officer now owns 630,166 shares in the company, valued at approximately $13,258,692.64. This trade represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,167,913 shares of company stock valued at $34,303,787. 17.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Hims & Hers Health by 4.7% during the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares during the period. Geode Capital Management LLC grew its stake in Hims & Hers Health by 12.7% during the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after buying an additional 482,177 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Hims & Hers Health by 34.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after acquiring an additional 883,230 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Hims & Hers Health by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,796,838 shares of the company’s stock worth $43,448,000 after purchasing an additional 129,416 shares during the period. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in Hims & Hers Health in the 4th quarter valued at $41,104,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.