Hims & Hers Health (NYSE:HIMS) Trading 10.6% Higher Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 10.6% during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $24.00 to $39.00. Truist Financial currently has a hold rating on the stock. Hims & Hers Health traded as high as $44.42 and last traded at $44.07. 13,241,704 shares traded hands during trading, a decline of 36% from the average session volume of 20,698,469 shares. The stock had previously closed at $39.86.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler boosted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group raised their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $42.00 to $60.00 in a report on Tuesday, February 18th. Two 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.47.

Insider Activity

In other news, CEO Andrew Dudum sold 33,513 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the completion of the transaction, the chief executive officer now owns 33,502 shares in the company, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Chi sold 2,054 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the transaction, the insider now owns 184,947 shares of the company’s stock, valued at $6,206,821.32. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,097,578 shares of company stock worth $38,080,320 over the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. bought a new stake in shares of Hims & Hers Health in the 4th quarter valued at approximately $200,000. Mackenzie Financial Corp lifted its position in Hims & Hers Health by 44.6% in the fourth quarter. Mackenzie Financial Corp now owns 29,096 shares of the company’s stock worth $704,000 after buying an additional 8,977 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Hims & Hers Health in the fourth quarter worth $99,000. Neo Ivy Capital Management boosted its stake in Hims & Hers Health by 145.4% during the fourth quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock worth $4,031,000 after buying an additional 98,798 shares during the period. Finally, PharVision Advisers LLC bought a new position in Hims & Hers Health during the fourth quarter valued at $234,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Up 9.9 %

The company’s 50 day moving average price is $35.62 and its two-hundred day moving average price is $26.25. The firm has a market cap of $9.57 billion, a PE ratio of 99.87 and a beta of 1.35.

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

Hims & Hers Health Company Profile

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.