Hims & Hers Health (NYSE:HIMS) Shares Up 3.8% on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) rose 3.8% 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. Approximately 3,436,408 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 8,182,007 shares. The stock had previously closed at $22.15.

Other equities research analysts have also recently issued reports about the stock. Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hims & Hers Health from $16.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and set a $18.00 price objective on shares of Hims & Hers Health in a research report on Tuesday, August 6th. Jefferies Financial Group increased their price objective on Hims & Hers Health from $14.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, June 27th. Finally, Needham & Company LLC began coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.21.

Insiders Place Their Bets

In other news, insider Soleil Boughton sold 2,335 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $20.29, for a total transaction of $47,377.15. Following the completion of the transaction, the insider now directly owns 166,809 shares in the company, valued at approximately $3,384,554.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Hims & Hers Health news, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.00, for a total value of $45,188.00. Following the transaction, the insider now directly owns 185,326 shares of the company’s stock, valued at $4,077,172. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 2,335 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $20.29, for a total transaction of $47,377.15. Following the transaction, the insider now owns 166,809 shares of the company’s stock, valued at approximately $3,384,554.61. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,911 shares of company stock valued at $14,640,096. 17.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors have recently made changes to their positions in HIMS. Vanguard Group Inc. raised its position in shares of Hims & Hers Health by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 14,173,285 shares of the company’s stock worth $126,142,000 after acquiring an additional 46,541 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Hims & Hers Health during the 4th quarter worth approximately $155,000. Los Angeles Capital Management LLC grew its position in Hims & Hers Health by 58.5% in 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 during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Hims & Hers Health in the 1st quarter worth about $285,000. Finally, State of Michigan Retirement System purchased a new position in shares of Hims & Hers Health during the first quarter valued at approximately $2,785,000. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The company has a market cap of $4.94 billion, a PE ratio of 276.91 and a beta of 1.06. The company’s fifty day moving average price is $16.94 and its 200 day moving average price is $17.61.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $315.65 million during the quarter, compared to analyst estimates of $302.43 million. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. Hims & Hers Health’s revenue was up 51.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. On average, analysts forecast that Hims & Hers Health, Inc. will post 0.22 EPS for the current 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.