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

Hims & Hers Health (NYSE:HIMS) had its price target lifted by Canaccord Genuity Group from $38.00 to $68.00 in a report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. 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 research report on Wednesday, November 6th. Morgan Stanley downgraded 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 research report on Tuesday. Piper Sandler increased their target price on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their target price for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, TD Cowen reiterated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.33.

Hims & Hers Health Stock Performance

Shares of NYSE:HIMS opened at $68.87 on Wednesday. The company has a market cap of $15.05 billion, a P/E ratio of 156.54 and a beta of 1.35. The stock’s 50-day moving average is $33.94 and its 200-day moving average is $25.19. Hims & Hers Health has a 52-week low of $9.22 and a 52-week high of $72.98.

Insiders Place Their Bets

In other news, CFO Oluyemi Okupe sold 101,993 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.62, for a total transaction of $3,021,032.66. Following the completion of the sale, the chief financial officer now owns 109,392 shares of the company’s stock, valued at approximately $3,240,191.04. This trade represents a 48.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Melissa Baird sold 67,687 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $44.71, for a total transaction of $3,026,285.77. Following the sale, the chief operating officer now directly owns 706,872 shares of the company’s stock, valued at approximately $31,604,247.12. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,052,332 shares of company stock worth $32,620,497 over the last quarter. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several hedge funds have recently modified their holdings of the company. SlateStone Wealth LLC increased its holdings in shares of Hims & Hers Health by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock worth $257,000 after buying an additional 413 shares in the last quarter. Blume Capital Management Inc. increased its holdings in shares of Hims & Hers Health by 100.0% in the fourth 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 in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Hims & Hers Health by 3.3% in the fourth 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 in the last quarter. Quest Partners LLC increased its holdings 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 purchasing an additional 807 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings 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 purchasing an additional 833 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

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.