Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $23.00 to $27.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. 21,144,631 shares changed hands during mid-day trading, an increase of 148% from the previous session’s volume of 8,532,059 shares.The stock last traded at $23.74 and had previously closed at $20.64.

Several other analysts also recently weighed in on HIMS. Needham & Company LLC assumed coverage on Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price for the company. Truist Financial boosted their price objective on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Piper Sandler restated a “neutral” rating and set a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Finally, Bank of America increased their price target on shares of Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Transactions at Hims & Hers Health

In other news, insider Soleil Boughton sold 2,339 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total transaction of $54,171.24. Following the transaction, the insider now directly owns 169,935 shares in the company, valued at $3,935,694.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Soleil Boughton sold 2,339 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $23.16, for a total value of $54,171.24. Following the completion of the sale, the insider now directly owns 169,935 shares of the company’s stock, valued at $3,935,694.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christiane Pendarvis sold 7,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $15.15, for a total value of $106,050.00. Following the transaction, the director now directly owns 23,917 shares in the company, valued at $362,342.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,659 shares of company stock worth $11,712,198. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in HIMS. Royce & Associates LP grew its position in Hims & Hers Health by 17.0% during the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after buying an additional 49,500 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Hims & Hers Health by 164.9% in the 3rd quarter. Victory Capital Management Inc. now owns 51,577 shares of the company’s stock worth $950,000 after acquiring an additional 32,108 shares during the period. WealthPlan Investment Management LLC purchased a new position in Hims & Hers Health in the 3rd quarter valued at approximately $1,042,000. Versor Investments LP purchased a new position in Hims & Hers Health in the 3rd quarter valued at approximately $634,000. Finally, Los Angeles Capital Management LLC raised its holdings in Hims & Hers Health by 40.8% during the third quarter. Los Angeles Capital Management LLC now owns 40,353 shares of the company’s stock worth $743,000 after purchasing an additional 11,686 shares during the last quarter. 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 $5.03 billion, a PE ratio of 53.27 and a beta of 1.06. The stock has a 50-day simple moving average of $18.22 and a 200 day simple moving average of $18.26.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 11.67%. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS. As a group, research analysts predict that Hims & Hers Health, Inc. will post 0.22 EPS for the current fiscal year.

Hims & Hers Health Company Profile

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.