Hims & Hers Health (NYSE:HIMS) Trading 2.1% Higher on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price rose 2.1% during trading on Wednesday after Bank of America raised their price target on the stock from $21.00 to $22.00. Bank of America currently has an underperform rating on the stock. Hims & Hers Health traded as high as $32.48 and last traded at $32.16. Approximately 4,084,887 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 13,527,909 shares. The stock had previously closed at $31.49.

Several other equities research analysts have also recently commented on HIMS. TD Cowen reaffirmed a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. BTIG Research assumed coverage on Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. Truist Financial raised their target price on Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Piper Sandler raised their target price on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group lifted their price target on Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.31.

Insider Buying and Selling

In other news, insider Michael Chi sold 7,259 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $24.07, for a total value of $174,724.13. Following the completion of the sale, the insider now owns 193,601 shares of the company’s stock, valued at approximately $4,659,976.07. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the sale, the insider now directly owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,034,506 shares of company stock worth $36,635,024 over the last ninety days. 17.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in shares of Hims & Hers Health by 18.8% during the 4th quarter. California State Teachers Retirement System now owns 166,337 shares of the company’s stock worth $4,022,000 after acquiring an additional 26,363 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Hims & Hers Health in the 4th quarter valued at approximately $213,000. IronOak Wealth LLC. bought a new position in Hims & Hers Health in the 4th quarter valued at approximately $922,000. Kilter Group LLC bought a new position in Hims & Hers Health in the 4th quarter valued at approximately $1,053,000. Finally, Cim LLC lifted its position in Hims & Hers Health by 1.0% in the 4th quarter. Cim LLC now owns 71,869 shares of the company’s stock valued at $1,738,000 after acquiring an additional 694 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $7.52 billion, a P/E ratio of 76.94 and a beta of 1.37. The firm has a 50-day moving average of $38.88 and a 200-day moving average of $28.52.

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