Canaccord Genuity Group Increases Hims & Hers Health (NYSE:HIMS) Price Target to $68.00

Hims & Hers Health (NYSE:HIMS) had its price objective increased by Canaccord Genuity Group from $38.00 to $68.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 1.35% from the stock’s current price.

HIMS has been the subject of a number of other research reports. Piper Sandler raised their price objective on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Needham & Company LLC increased their target price on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Morgan Stanley cut Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $42.00 to $60.00 in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.33.

Hims & Hers Health Stock Performance

Shares of HIMS traded up $8.59 during trading hours on Wednesday, hitting $67.09. 16,455,857 shares of the company were exchanged, compared to its average volume of 13,852,332. The firm’s 50 day moving average is $33.17 and its 200-day moving average is $24.89. Hims & Hers Health has a 52 week low of $9.22 and a 52 week high of $70.50. The company has a market cap of $14.66 billion, a PE ratio of 152.53 and a beta of 1.35.

Insiders Place Their Bets

In other Hims & Hers Health news, CEO Andrew Dudum sold 33,513 shares of Hims & Hers Health stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Melissa Baird sold 67,687 shares of Hims & Hers Health 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 completion of the sale, the chief operating officer now directly owns 706,872 shares in the company, valued at $31,604,247.12. This represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,052,332 shares of company stock worth $32,620,497. Corporate insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. SlateStone Wealth LLC raised its stake in shares of Hims & Hers Health by 4.0% in the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock valued at $257,000 after purchasing an additional 413 shares during the period. Blume Capital Management Inc. raised its stake in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 600 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Hims & Hers Health by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock valued at $480,000 after purchasing an additional 628 shares during the period. Quest Partners LLC increased its position in shares of Hims & Hers Health by 22.6% in the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after acquiring an additional 807 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Hims & Hers Health by 18.8% in the fourth quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock valued at $127,000 after acquiring an additional 833 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.