Hims & Hers Health (NYSE:HIMS) Trading Up 10.4% on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares traded up 10.4% during mid-day trading on Wednesday 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 $44.62 and last traded at $44.02. 19,761,520 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 20,935,512 shares. The stock had previously closed at $39.86.

Other equities research analysts also recently issued reports about the stock. BTIG Research began coverage on shares of 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. Needham & Company LLC upped their price objective 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. Bank of America raised their target price on shares of Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a report on Thursday, February 20th. Leerink Partners boosted their target price on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hims & Hers Health has a consensus rating of “Hold” and a consensus price target of $34.47.

Insider Buying and Selling

In other news, insider Michael Chi sold 17,303 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $48.14, for a total transaction of $832,966.42. Following the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $9,319,952.14. This trade represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the transaction, the insider now directly owns 169,803 shares in the company, valued at $4,712,033.25. This trade represents a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,097,578 shares of company stock worth $38,080,320. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC lifted its position in shares of Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after purchasing an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Hims & Hers Health by 192.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after buying an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after buying an additional 2,020,722 shares during the period. Yong Rong HK Asset Management Ltd bought a new stake in Hims & Hers Health during the 4th quarter valued at approximately $41,104,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after acquiring an additional 1,562,302 shares during the period. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Trading Up 10.4 %

The stock has a market cap of $9.61 billion, a PE ratio of 100.07 and a beta of 1.35. The business has a fifty day simple moving average of $35.62 and a two-hundred day simple moving average of $26.25.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million for the quarter, compared to analysts’ expectations of $494.56 million. On average, research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

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.