Hims & Hers Health (NYSE:HIMS) Trading Up 4.4% Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares were up 4.4% during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $20.00 to $23.00. Bank of America currently has a buy rating on the stock. Hims & Hers Health traded as high as $21.44 and last traded at $21.40. Approximately 5,792,844 shares were traded during trading, a decline of 29% from the average daily volume of 8,159,691 shares. The stock had previously closed at $20.50.

Several other brokerages also recently commented on HIMS. Needham & Company LLC started coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $18.00 price objective on shares of Hims & Hers Health in a research note on Tuesday, August 6th. Jefferies Financial Group lifted their target price on Hims & Hers Health from $14.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, June 27th. TD Cowen increased their price target on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.07.

Insider Buying and Selling

In other news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the completion of the transaction, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $487,789.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.56, for a total transaction of $2,750,209.28. Following the transaction, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $487,789.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.00, for a total value of $45,188.00. Following the sale, the insider now directly owns 185,326 shares of the company’s stock, valued at $4,077,172. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,911 shares of company stock worth $14,640,096. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HIMS. Nisa Investment Advisors LLC lifted its holdings in shares of Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after buying an additional 1,603 shares in the last quarter. Quest Partners LLC raised its stake in Hims & Hers Health by 5,944.1% in the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares in the last quarter. CWM LLC boosted its holdings in Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the period. Van ECK Associates Corp acquired a new position in shares of Hims & Hers Health during the 2nd quarter worth approximately $111,000. Finally, Amalgamated Bank increased its holdings in shares of Hims & Hers Health by 55.9% during the second quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock worth $133,000 after purchasing an additional 2,354 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -2,236.00 and a beta of 1.06. The business’s 50-day moving average price is $16.70 and its two-hundred day moving average price is $17.50.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. The firm had revenue of $315.65 million during the quarter, compared to the consensus estimate of $302.43 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s revenue was up 51.8% compared to the same quarter last year. As a group, research analysts predict that Hims & Hers Health, Inc. will post 0.22 EPS for the current 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.