Hims & Hers Health (NYSE:HIMS) Trading 10.4% Higher After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 10.4% during 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 $44.62 and last traded at $44.02. 19,761,520 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 20,935,512 shares. The stock had previously closed at $39.86.

Other research analysts also recently issued research reports about the stock. Citigroup increased their price target on shares of Hims & Hers Health from $25.00 to $27.00 and gave the company a “sell” rating in a report on Tuesday. Canaccord Genuity Group increased their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Leerink Partners increased their price objective on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday. Morgan Stanley lowered shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health has a consensus rating of “Hold” and a consensus target price of $34.47.

Insider Transactions at Hims & Hers Health

In related news, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the transaction, the insider now owns 157,345 shares of the company’s stock, valued at $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Chi sold 7,259 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $24.07, for a total transaction of $174,724.13. Following the completion of the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at $4,659,976.07. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,097,578 shares of company stock valued at $38,080,320. 17.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Large investors have recently bought and sold shares of the business. Main Management ETF Advisors LLC bought a new position in Hims & Hers Health in the third quarter worth approximately $672,000. Robeco Institutional Asset Management B.V. bought a new position in Hims & Hers Health in the third quarter worth approximately $604,000. Royce & Associates LP raised its stake in Hims & Hers Health by 17.0% in the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after buying an additional 49,500 shares in the last quarter. Versor Investments LP bought a new position in Hims & Hers Health in the third quarter worth approximately $634,000. Finally, International Assets Investment Management LLC purchased a new position in Hims & Hers Health in the third quarter worth $6,790,000. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The company’s fifty day simple moving average is $35.89 and its 200-day simple moving average is $26.36. The firm has a market capitalization of $9.15 billion, a PE ratio of 95.15 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. As a group, equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

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.