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

Hims & Hers Health, Inc. (NYSE:HIMS) shares saw an uptick in 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 traded hands 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.

Several other equities analysts also recently commented on HIMS. Citigroup downgraded shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and increased their price objective for the company from $24.00 to $25.00 in a research note on Friday, January 10th. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $42.00 to $60.00 in a research report on Tuesday. Needham & Company LLC increased their target price on Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Piper Sandler boosted their price target on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, TD Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.53.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 101,993 shares of the stock in a transaction dated 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 trade represents a 48.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Soleil Boughton sold 2,343 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total value of $70,055.70. Following the completion of the transaction, the insider now owns 165,254 shares in the company, valued at $4,941,094.60. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,184,611 shares of company stock valued at $40,338,442 in the last 90 days. 17.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds have recently made changes to their positions in the business. CWM LLC lifted its position in shares of Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares in the last quarter. Creative Planning boosted its position in Hims & Hers Health by 18.1% during the 3rd quarter. Creative Planning now owns 25,925 shares of the company’s stock valued at $478,000 after buying an additional 3,979 shares during the period. Venture Visionary Partners LLC bought a new stake in shares of Hims & Hers Health in the third quarter worth about $238,000. International Assets Investment Management LLC purchased a new position in Hims & Hers Health during the 3rd quarter valued at $6,790,000. Finally, Dakota Wealth Management purchased a new position in shares of Hims & Hers Health during the third quarter valued at about $245,000. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Stock Performance

The firm has a 50-day moving average price of $34.66 and a 200-day moving average price of $25.48. The stock has a market cap of $11.61 billion, a P/E ratio of 123.48 and a beta of 1.35.

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.