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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price traded 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. 5,792,844 shares were traded during mid-day trading, a decline of 29% from the average session volume of 8,159,691 shares. The stock had previously closed at $20.50.

A number of other research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hims & Hers Health from $16.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Truist Financial boosted their price objective on shares of Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted their price objective on shares of Hims & Hers Health from $14.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, June 27th. TD Cowen lifted their target price on shares of Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price for the company. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Moderate Buy” and an average target price of $20.07.

Insider Activity at Hims & Hers Health

In related news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.47, for a total value of $3,110,985.36. Following the sale, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $551,777.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hims & Hers Health news, CFO Oluyemi Okupe sold 11,609 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.60, for a total transaction of $169,491.40. Following the sale, the chief financial officer now directly owns 181,469 shares of the company’s stock, valued at $2,649,447.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.47, for a total transaction of $3,110,985.36. Following the sale, the chief executive officer now directly owns 33,502 shares in the company, valued at $551,777.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 563,833 shares of company stock valued at $9,113,958. 17.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning raised its holdings in shares of Hims & Hers Health by 18.1% in the 3rd quarter. Creative Planning now owns 25,925 shares of the company’s stock valued at $478,000 after purchasing an additional 3,979 shares during the period. Carnegie Investment Counsel bought a new stake in shares of Hims & Hers Health in the 3rd quarter valued at about $5,531,000. CWM LLC raised its holdings in shares of 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. Strategic Wealth Partners Ltd. raised its holdings in shares of Hims & Hers Health by 57.6% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 109,199 shares of the company’s stock valued at $2,011,000 after purchasing an additional 39,896 shares during the period. Finally, Diversified Trust Co bought a new stake in shares of Hims & Hers Health in the 3rd quarter valued at about $233,000. 63.52% of the stock is owned by institutional investors.

Hims & Hers Health Stock Performance

The stock’s fifty day moving average price is $16.58 and its 200-day moving average price is $17.47. The company has a market capitalization of $4.90 billion, a P/E ratio of -2,280.00 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The company had revenue of $315.65 million for the quarter, compared to analysts’ expectations of $302.43 million. During the same period in the prior year, the firm earned ($0.03) EPS. Hims & Hers Health’s quarterly revenue was up 51.8% compared to the same quarter last year. On average, 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.