Hims & Hers Health (NYSE:HIMS) Reaches New 1-Year High – Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price hit a new 52-week high on Wednesday . The company traded as high as $46.50 and last traded at $46.27, with a volume of 7508379 shares. The stock had previously closed at $43.58.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HIMS. Canaccord Genuity Group upped their target price on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Needham & Company LLC boosted their target price on shares of Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. BTIG Research assumed coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their price objective for the company from $24.00 to $25.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.13.

Hims & Hers Health Trading Up 6.5 %

The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 105.53 and a beta of 1.35. The business has a 50-day moving average price of $30.73 and a two-hundred day moving average price of $23.58.

Insiders Place Their Bets

In related news, CEO Andrew Dudum sold 33,513 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.38, for a total value of $1,118,663.94. Following the completion of the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $1,118,296.76. This represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Melissa Baird sold 58,750 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $21.04, for a total transaction of $1,236,100.00. Following the completion of the transaction, the chief operating officer now owns 630,166 shares of the company’s stock, valued at $13,258,692.64. This represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,043,867 shares of company stock valued at $30,839,478 over the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Main Management ETF Advisors LLC bought a new position in shares of Hims & Hers Health during the 3rd quarter valued at about $672,000. Robeco Institutional Asset Management B.V. bought a new stake in Hims & Hers Health during the third quarter worth approximately $604,000. Royce & Associates LP grew its position 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 during the last quarter. Versor Investments LP bought a new position in shares of Hims & Hers Health in the third quarter valued at $634,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Hims & Hers Health during the 3rd quarter valued at $6,790,000. 63.52% of the stock is currently owned by institutional investors.

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.