Hims & Hers Health (NYSE:HIMS) Sees Strong Trading Volume on Analyst Upgrade

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Friday after Bank of America raised their price target on the stock from $18.00 to $21.00. Bank of America currently has an underperform rating on the stock. 32,670,542 shares were traded during trading, an increase of 102% from the previous session’s volume of 16,202,188 shares.The stock last traded at $55.76 and had previously closed at $66.41.

A number of other brokerages have also commented on HIMS. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $42.00 to $60.00 in a report on Tuesday. BTIG Research started coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and increased their target price for the company from $24.00 to $25.00 in a research report on Friday, January 10th. Needham & Company LLC increased their price target on Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Canaccord Genuity Group raised their target price on Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.53.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 33,513 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at $1,118,296.76. This represents a 50.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Soleil Boughton sold 2,343 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total value of $70,055.70. Following the transaction, the insider now owns 165,254 shares in the company, valued at $4,941,094.60. This trade represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,184,611 shares of company stock worth $40,338,442 over the last ninety days. 17.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after buying an additional 2,020,722 shares during the period. Farallon Capital Management LLC increased its position in Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock valued at $202,556,000 after buying an additional 8,364,000 shares in the last quarter. Renaissance Technologies LLC increased its position in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock valued at $168,079,000 after buying an additional 1,562,302 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after purchasing an additional 4,145,305 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Trading Down 26.1 %

The stock has a market capitalization of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35. The stock has a 50 day moving average price of $35.05 and a 200-day moving average price of $25.70.

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.