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

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Monday after Bank of America raised their price target on the stock from $20.00 to $23.00. The stock had previously closed at $18.69, but opened at $20.00. Bank of America currently has a buy rating on the stock. Hims & Hers Health shares last traded at $19.88, with a volume of 5,509,223 shares trading hands.

Other research analysts also recently issued research reports about the company. Piper Sandler reissued a “neutral” rating and issued a $18.00 price target on shares of Hims & Hers Health in a research note on Tuesday, August 6th. Truist Financial increased their price target on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Jefferies Financial Group increased their price objective on shares of Hims & Hers Health from $14.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC started coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price target on the stock. Eight equities 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.07.

Insider Buying and Selling

In other Hims & Hers Health news, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.00, for a total transaction of $45,188.00. Following the sale, the insider now owns 185,326 shares in the company, valued at approximately $4,077,172. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.00, for a total transaction of $45,188.00. Following the transaction, the insider now directly owns 185,326 shares of the company’s stock, valued at approximately $4,077,172. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 2,335 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $20.29, for a total value of $47,377.15. Following the transaction, the insider now directly owns 166,809 shares in the company, valued at $3,384,554.61. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 563,833 shares of company stock valued at $9,113,958 over the last 90 days. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Carnegie Investment Counsel acquired a new stake in Hims & Hers Health during the 3rd quarter worth $5,531,000. Diversify Advisory Services LLC purchased a new position in shares of Hims & Hers Health in the 1st quarter valued at about $701,000. Sei Investments Co. grew its holdings in Hims & Hers Health by 206.9% during the 1st quarter. Sei Investments Co. now owns 56,202 shares of the company’s stock worth $869,000 after acquiring an additional 37,890 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Hims & Hers Health by 3,444.9% during the 1st quarter. Quantbot Technologies LP now owns 214,677 shares of the company’s stock worth $3,321,000 after acquiring an additional 208,621 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Hims & Hers Health by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after purchasing an additional 328,142 shares during the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

Hims & Hers Health Trading Up 11.2 %

The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -2,280.00 and a beta of 1.06. The stock’s 50 day moving average is $16.58 and its two-hundred day moving average is $17.47.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The company had revenue of $315.65 million for the quarter, compared to the consensus estimate of $302.43 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 51.8% compared to the same quarter last year. On average, sell-side analysts predict 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.