Hims & Hers Health (NYSE:HIMS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Hims & Hers Health (NYSE:HIMS) had its price objective increased by analysts at Piper Sandler from $21.00 to $24.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential downside of 11.11% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. TD Cowen restated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Canaccord Genuity Group boosted their target price on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Morgan Stanley initiated coverage on shares of Hims & Hers Health in a report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price for the company. Finally, Needham & Company LLC lifted their price objective on Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.07.

Hims & Hers Health Trading Up 1.4 %

Shares of HIMS stock traded up $0.37 during trading hours on Monday, hitting $27.00. The company’s stock had a trading volume of 4,369,413 shares, compared to its average volume of 6,992,595. The company has a 50 day moving average of $26.66 and a 200 day moving average of $21.50. Hims & Hers Health has a 12-month low of $8.14 and a 12-month high of $35.02. The stock has a market cap of $5.90 billion, a PE ratio of 61.37 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. During the same period last year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Soleil Boughton sold 2,339 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.41, for a total value of $47,738.99. Following the sale, the insider now directly owns 172,274 shares of the company’s stock, valued at approximately $3,516,112.34. This represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the completion of the sale, the chief financial officer now directly owns 145,763 shares in the company, valued at $2,960,446.53. This trade represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,064,514 shares of company stock worth $26,712,334. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Hims & Hers Health by 2,173.7% during the fourth quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock worth $54,000 after purchasing an additional 2,152 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Hims & Hers Health by 102.0% during the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after buying an additional 146,621 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Hims & Hers Health by 26.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 26,057 shares of the company’s stock worth $480,000 after buying an additional 5,505 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Hims & Hers Health in the 3rd quarter worth $1,252,000. Finally, Geode Capital Management LLC boosted its holdings in Hims & Hers Health by 12.7% in the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after acquiring an additional 482,177 shares during the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

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.