Hims & Hers Health (NYSE:HIMS) Sees Strong Trading Volume on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS – Get Rating) saw unusually-strong trading volume on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $7.00 to $9.00. Approximately 2,222,241 shares traded hands during trading, a decline of 7% from the previous session’s volume of 2,389,086 shares.The stock last traded at $12.03 and had previously closed at $11.27.

A number of other equities analysts also recently weighed in on HIMS. Piper Sandler raised their target price on shares of Hims & Hers Health from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday. Credit Suisse Group raised their target price on shares of Hims & Hers Health from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday. Guggenheim restated a “buy” rating and issued a $15.00 price objective on shares of Hims & Hers Health in a report on Tuesday. Truist Financial boosted their price objective on shares of Hims & Hers Health from $7.00 to $12.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Bank of America boosted their price objective on shares of Hims & Hers Health from $11.50 to $13.50 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.55.

Insider Buying and Selling

In other Hims & Hers Health news, insider Soleil Boughton sold 13,744 shares of the business’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $6.72, for a total value of $92,359.68. Following the sale, the insider now owns 301,434 shares in the company, valued at approximately $2,025,636.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Soleil Boughton sold 13,744 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $6.72, for a total transaction of $92,359.68. Following the sale, the insider now directly owns 301,434 shares in the company, valued at approximately $2,025,636.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynne Chou O’keefe sold 10,044 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $6.72, for a total transaction of $67,495.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,625 shares of company stock valued at $629,157. Company insiders own 35.22% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several hedge funds have recently made changes to their positions in HIMS. Point72 Middle East FZE purchased a new stake in shares of Hims & Hers Health during the 4th quarter valued at about $29,000. Captrust Financial Advisors grew its stake in Hims & Hers Health by 1,827.4% in the 1st quarter. Captrust Financial Advisors now owns 6,765 shares of the company’s stock worth $36,000 after acquiring an additional 6,414 shares in the last quarter. Lazard Asset Management LLC bought a new position in Hims & Hers Health in the 3rd quarter worth about $51,000. Tower Research Capital LLC TRC grew its stake in Hims & Hers Health by 70.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,538 shares of the company’s stock worth $54,000 after acquiring an additional 3,933 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in Hims & Hers Health in the 2nd quarter worth about $62,000. 45.60% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $2.40 billion, a P/E ratio of -36.03 and a beta of 0.59. The stock’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $6.56.

Hims & Hers Health (NYSE:HIMS – Get Rating) last announced its earnings results on Monday, February 27th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $167.30 million during the quarter, compared to the consensus estimate of $161.18 million. Hims & Hers Health had a negative net margin of 12.47% and a negative return on equity of 20.57%. Hims & Hers Health’s revenue was up 97.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. On average, analysts anticipate that Hims & Hers Health, Inc. will post -0.22 earnings per share for the current year.

Hims & Hers Health Company Profile

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Hims & Hers Health, Inc operates a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals. The company offers a range of health and wellness products and services available to purchase on its websites and mobile application directly by customers. It also provides prescription medication on a recurring basis and ongoing care from healthcare providers; and over-the-counter drug and device products, cosmetics, and supplement products, primarily focusing on wellness, sexual health and wellness, skincare, and hair care.