Hims & Hers Health (NYSE:HIMS) Sets New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted 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. Bank of America downgraded Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Morgan Stanley assumed coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price target for the company. Finally, Needham & Company LLC boosted their price objective on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and an average target price of $25.13.

Hims & Hers Health Price Performance

The company has a fifty day simple moving average of $30.73 and a two-hundred day simple moving average of $23.58. The company has a market capitalization of $10.14 billion, a P/E ratio of 105.53 and a beta of 1.35.

Insider Activity at Hims & Hers Health

In related news, insider Soleil Boughton sold 268,932 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the transaction, the insider now owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. The trade was a 61.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 33,513 shares of the firm’s stock in a transaction that occurred on 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 directly owns 33,502 shares in the company, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,043,867 shares of company stock valued at $30,839,478. Corporate insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after buying an additional 4,145,305 shares during the period. Vanguard Group Inc. raised its stake in Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after acquiring an additional 2,020,722 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new position in Hims & Hers Health during the 4th quarter valued at about $41,104,000. Principal Financial Group Inc. boosted its holdings in shares of Hims & Hers Health by 370.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,365,769 shares of the company’s stock worth $33,024,000 after acquiring an additional 1,075,355 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Hims & Hers Health by 34.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after acquiring an additional 883,230 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.