Hims & Hers Health (NYSE:HIMS) Shares Gap Up After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped up before the market opened on Monday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $38.00. The stock had previously closed at $32.22, but opened at $33.56. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health shares last traded at $32.50, with a volume of 4,352,900 shares changing hands.

HIMS has been the subject of a number of other research reports. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.43.

Insider Activity at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 101,993 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.62, for a total value of $3,021,032.66. Following the completion of the sale, the chief financial officer now owns 109,392 shares in the company, valued at approximately $3,240,191.04. This represents a 48.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Melissa Baird sold 11,749 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now 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 sold a total of 950,677 shares of company stock valued at $21,532,666 over the last ninety days. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in shares of Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after purchasing an additional 1,603 shares during the last quarter. Quest Partners LLC increased its stake in shares of Hims & Hers Health by 5,944.1% during the 2nd 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 last quarter. Van ECK Associates Corp acquired a new position in shares of Hims & Hers Health during the 2nd quarter worth $111,000. CWM LLC increased its stake in shares of Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after purchasing an additional 2,913 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

The company’s 50 day moving average price is $22.01 and its 200 day moving average price is $19.94. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 71.77 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. During the same quarter in the prior year, the business posted ($0.04) EPS. Hims & Hers Health’s quarterly revenue was up 77.1% on a year-over-year basis. On average, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 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.