Hims & Hers Health (NYSE:HIMS) Price Target Raised to $38.00 at Canaccord Genuity Group

Hims & Hers Health (NYSE:HIMS) had its target price lifted by Canaccord Genuity Group from $28.00 to $38.00 in a research note published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

HIMS has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upped their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, TD Cowen restated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health has a consensus rating of “Hold” and an average price target of $21.43.

Hims & Hers Health Price Performance

NYSE HIMS opened at $30.87 on Monday. The stock has a market capitalization of $6.74 billion, a P/E ratio of 71.77 and a beta of 1.06. The firm’s 50-day moving average is $22.01 and its two-hundred day moving average is $19.94. Hims & Hers Health has a 12 month low of $8.09 and a 12 month high of $35.02.

Hims & Hers Health (NYSE:HIMS) last announced its 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. The firm had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. As a group, analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total value of $38,593.50. Following the transaction, the insider now owns 176,952 shares of the company’s stock, valued at $2,919,708. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Melissa Baird sold 11,749 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $14.65, for a total transaction of $172,122.85. Following the transaction, the chief operating officer now directly owns 585,800 shares of the company’s stock, valued at approximately $8,581,970. This trade represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 950,677 shares of company stock valued at $21,532,666 over the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares in the last quarter. Quest Partners LLC lifted its holdings in Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the period. CWM LLC boosted its holdings in shares of Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after acquiring an additional 1,054 shares in the last quarter. Van ECK Associates Corp bought a new stake in Hims & Hers Health during the second quarter worth approximately $111,000. Finally, Quarry LP boosted its stake in Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.