Hims & Hers Health (NYSE:HIMS) Trading 9.1% Higher on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares traded up 9.1% during mid-day trading on Thursday 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 $45.39 and last traded at $45.70. 18,010,189 shares changed hands during trading, a decline of 16% from the average session volume of 21,522,248 shares. The stock had previously closed at $41.89.

A number of other research firms have also recently issued reports on HIMS. Leerink Partners boosted their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday. Citigroup boosted their price objective on Hims & Hers Health from $25.00 to $27.00 and gave the company a “sell” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Piper Sandler boosted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Needham & Company LLC boosted their price target on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.23.

Insiders Place Their Bets

In other news, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the sale, the insider now owns 184,947 shares in the company, valued at $6,206,821.32. The trade was a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total value of $251,984.88. Following the sale, the insider now owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,097,578 shares of company stock valued at $38,080,320. 17.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning increased its holdings in Hims & Hers Health by 18.1% in the third quarter. Creative Planning now owns 25,925 shares of the company’s stock valued at $478,000 after purchasing an additional 3,979 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Hims & Hers Health in the third quarter valued at about $6,790,000. Robeco Institutional Asset Management B.V. bought a new stake in Hims & Hers Health in the third quarter valued at about $604,000. QRG Capital Management Inc. increased its holdings in Hims & Hers Health by 3.9% in the third quarter. QRG Capital Management Inc. now owns 162,029 shares of the company’s stock valued at $2,985,000 after purchasing an additional 6,077 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in Hims & Hers Health in the third quarter valued at about $262,000. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Up 9.3 %

The business has a fifty day moving average of $36.57 and a 200 day moving average of $26.66. The firm has a market cap of $9.87 billion, a P/E ratio of 102.72 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. On average, sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS 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.