Hims & Hers Health (NYSE:HIMS) Price Target Raised to $68.00 at Canaccord Genuity Group

Hims & Hers Health (NYSE:HIMS) had its target price upped by Canaccord Genuity Group from $38.00 to $68.00 in a report issued on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. BTIG Research initiated coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. Bank of America downgraded Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price target for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $42.00 to $60.00 in a research report on Tuesday. Finally, Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their target price for the company from $24.00 to $25.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.53.

Hims & Hers Health Price Performance

HIMS opened at $49.10 on Wednesday. The business’s 50-day moving average price is $35.05 and its two-hundred day moving average price is $25.70. Hims & Hers Health has a 1 year low of $9.25 and a 1 year high of $72.98. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 111.58 and a beta of 1.35.

Insider Buying and Selling

In other news, insider Soleil Boughton sold 4,152 shares of the business’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. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the sale, the chief executive officer now owns 97,687 shares of the company’s stock, valued at approximately $5,692,221.49. This represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,184,611 shares of company stock worth $40,338,442. Company insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the company. Main Management ETF Advisors LLC bought a new stake in shares of Hims & Hers Health during the third quarter worth approximately $672,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Hims & Hers Health in the third quarter valued at approximately $604,000. Royce & Associates LP boosted its stake in shares of Hims & Hers Health by 17.0% in the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after buying an additional 49,500 shares during the period. Versor Investments LP bought a new stake in shares of Hims & Hers Health in the third quarter valued at approximately $634,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Hims & Hers Health in the third quarter valued at approximately $6,790,000. 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.