Bank of America Issues Positive Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Hims & Hers Health (NYSE:HIMS) had its target price increased by Bank of America from $21.00 to $22.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other research firms also recently commented on HIMS. Citigroup restated a “sell” rating and set a $27.00 price objective on shares of Hims & Hers Health in a report on Thursday, March 6th. Truist Financial lifted their price target 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 lifted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. BTIG Research started 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. Finally, Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $42.00 to $60.00 in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.31.

Hims & Hers Health Stock Down 9.3 %

HIMS opened at $31.46 on Tuesday. The stock’s fifty day moving average is $38.72 and its two-hundred day moving average is $28.49. The company has a market capitalization of $6.99 billion, a P/E ratio of 71.49 and a beta of 1.37. Hims & Hers Health has a 52 week low of $11.20 and a 52 week high of $72.98.

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

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 268,932 shares of Hims & Hers Health stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the sale, the insider now owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. The trade was a 61.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the sale, the chief executive officer now directly owns 97,687 shares of the company’s stock, valued at approximately $5,692,221.49. This represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,042,006 shares of company stock valued at $36,830,024 in the last quarter. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Principal Financial Group Inc. lifted its position in Hims & Hers Health by 102.0% during the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after acquiring an additional 146,621 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Hims & Hers Health by 164.9% in the 3rd quarter. Victory Capital Management Inc. now owns 51,577 shares of the company’s stock valued at $950,000 after buying an additional 32,108 shares during the period. Quest Partners LLC lifted its holdings in shares of Hims & Hers Health by 22.6% in the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after buying an additional 807 shares during the period. Intech Investment Management LLC acquired a new position in shares of Hims & Hers Health in the 3rd quarter valued at about $1,064,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Hims & Hers Health in the 3rd quarter valued at about $2,395,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.