Hims & Hers Health (NYSE:HIMS) Trading 6.6% Higher on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was up 6.6% during trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $38.00. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health traded as high as $33.24 and last traded at $32.88. Approximately 1,975,003 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 9,794,257 shares. The stock had previously closed at $30.85.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC initiated coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price on the stock. Piper Sandler reissued a “neutral” rating and set a $21.00 price objective (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, TD Cowen restated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.43.

Insider Activity

In related news, insider Soleil Boughton sold 2,339 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total transaction of $38,593.50. Following the sale, the insider now owns 176,952 shares of the company’s stock, valued at approximately $2,919,708. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Chi sold 2,054 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the transaction, the insider now directly owns 184,947 shares of the company’s stock, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 974,495 shares of company stock valued at $22,548,139 over the last quarter. Corporate insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. acquired a new stake in Hims & Hers Health in the 3rd quarter valued at about $604,000. Carnegie Investment Counsel purchased a new stake in Hims & Hers Health in the 3rd quarter valued at approximately $5,531,000. Royce & Associates LP grew its holdings in Hims & Hers Health by 17.0% during the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after buying an additional 49,500 shares during the last quarter. Versor Investments LP purchased a new position in Hims & Hers Health during the third quarter worth $634,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Hims & Hers Health in the third quarter worth $6,790,000. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Price Performance

The firm has a market capitalization of $7.04 billion, a PE ratio of 73.21 and a beta of 1.25. The company has a 50-day moving average price of $22.30 and a 200-day moving average price of $20.06.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million during 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 company’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

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.