Hims & Hers Health (NYSE:HIMS) Trading 15.6% Higher – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price traded up 15.6% on Thursday . The company traded as high as $52.98 and last traded at $53.55. 6,673,221 shares traded hands during trading, a decline of 42% from the average session volume of 11,526,705 shares. The stock had previously closed at $46.34.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HIMS. BTIG Research began coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and boosted their target price for the company from $24.00 to $25.00 in a research note on Friday, January 10th. Needham & Company LLC boosted their target price on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Piper Sandler boosted 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. Finally, TD Cowen reissued a “buy” rating and set 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, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.13.

Hims & Hers Health Stock Up 18.6 %

The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 124.52 and a beta of 1.35. The firm’s 50 day moving average is $30.98 and its 200 day moving average is $23.74.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, COO Melissa Baird sold 58,750 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $21.04, for a total value of $1,236,100.00. Following the transaction, the chief operating officer now owns 630,166 shares in the company, valued at approximately $13,258,692.64. This represents a 8.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Oluyemi Okupe sold 11,581 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.01, for a total transaction of $498,098.81. Following the completion of the sale, the chief financial officer now directly owns 107,789 shares of the company’s stock, valued at $4,636,004.89. This represents a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,043,867 shares of company stock valued at $30,839,478 over the last ninety days. Insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several large investors have recently added to or reduced their stakes in HIMS. Vanguard Group Inc. boosted its holdings in shares of Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after buying an additional 2,020,722 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after buying an additional 1,562,302 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings 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. State Street Corp boosted its holdings in shares of Hims & Hers Health by 4.7% during the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after buying an additional 206,078 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Hims & Hers Health by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company’s stock worth $104,724,000 after buying an additional 40,447 shares during the period. 63.52% of the stock is owned by institutional investors.

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.