Hims & Hers Health (NYSE:HIMS) Stock Price Up 3.8% After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares traded up 3.8% during mid-day trading on Monday after Bank of America raised their price target on the stock from $23.00 to $25.00. Bank of America currently has a buy rating on the stock. Hims & Hers Health traded as high as $23.06 and last traded at $22.99. 3,436,408 shares changed hands during trading, a decline of 58% from the average session volume of 8,182,007 shares. The stock had previously closed at $22.15.

A number of other research analysts have also recently commented on the company. Truist Financial upped their price objective on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group increased their target price on shares of Hims & Hers Health from $14.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, June 27th. TD Cowen lifted their price objective on Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Piper Sandler restated a “neutral” rating and issued a $18.00 price objective on shares of Hims & Hers Health in a report on Tuesday, August 6th. Finally, Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.21.

Insider Transactions at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 269,739 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the transaction, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at approximately $2,960,446.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.47, for a total transaction of $3,110,985.36. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at $551,777.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Oluyemi Okupe sold 269,739 shares of Hims & Hers Health stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the completion of the transaction, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,911 shares of company stock valued at $14,640,096 over the last 90 days. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Hims & Hers Health by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 14,173,285 shares of the company’s stock valued at $126,142,000 after purchasing an additional 46,541 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Hims & Hers Health in the fourth quarter valued at approximately $155,000. Los Angeles Capital Management LLC boosted its stake in Hims & Hers Health by 58.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 28,206 shares of the company’s stock valued at $436,000 after purchasing an additional 10,405 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Hims & Hers Health in the 1st quarter worth $285,000. Finally, State of Michigan Retirement System bought a new position in Hims & Hers Health during the first quarter valued at about $2,785,000. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Stock Up 3.8 %

The firm’s 50-day simple moving average is $16.94 and its 200 day simple moving average is $17.61. The stock has a market capitalization of $4.94 billion, a P/E ratio of 276.91 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $315.65 million for the quarter, compared to analysts’ expectations of $302.43 million. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. The company’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, equities analysts anticipate that Hims & Hers Health, Inc. will post 0.22 EPS for the current fiscal year.

Hims & Hers Health Company Profile

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.