Hims & Hers Health (NYSE:HIMS) Sets New 1-Year High After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price hit a new 52-week high during trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $38.00 to $68.00. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health traded as high as $67.21 and last traded at $67.62, with a volume of 5741452 shares changing hands. The stock had previously closed at $58.50.

A number of other research firms have also recently commented on HIMS. TD Cowen restated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. BTIG Research began coverage on Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target for the company. Needham & Company LLC raised their price objective on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.33.

Insider Buying and Selling

In related news, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.28, for a total transaction of $314,169.52. Following the sale, the insider now owns 193,601 shares in the company, valued at approximately $8,379,051.28. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Melissa Baird sold 67,687 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $44.71, for a total value of $3,026,285.77. Following the sale, the chief operating officer now owns 706,872 shares in the company, valued at $31,604,247.12. This trade represents a 8.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,052,332 shares of company stock worth $32,620,497 in the last three months. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new stake in Hims & Hers Health during the 4th quarter worth approximately $99,000. Neo Ivy Capital Management grew its stake in shares of Hims & Hers Health by 145.4% in the 4th quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock valued at $4,031,000 after buying an additional 98,798 shares during the period. PharVision Advisers LLC acquired a new stake in Hims & Hers Health during the fourth quarter worth $234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Hims & Hers Health by 31.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 340,156 shares of the company’s stock worth $8,225,000 after purchasing an additional 81,495 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Hims & Hers Health by 839.2% in the 4th quarter. Two Sigma Advisers LP now owns 524,100 shares of the company’s stock valued at $12,673,000 after acquiring an additional 468,300 shares during the period. 63.52% of the stock is owned by institutional investors and hedge funds.

Hims & Hers Health Stock Up 19.0 %

The firm has a market capitalization of $15.21 billion, a PE ratio of 158.20 and a beta of 1.35. The firm has a 50-day moving average price of $33.17 and a 200 day moving average price of $24.89.

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.