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

Hims & Hers Health, Inc. (NYSE:HIMS) shares 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.

HIMS has been the subject of a number of other research reports. Piper Sandler reiterated a “neutral” rating and set a $18.00 price target on shares of Hims & Hers Health in a research note on Tuesday, August 6th. Truist Financial upped their price objective 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. TD Cowen lifted their target price on Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group increased their price target on Hims & Hers Health from $14.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, June 27th. Finally, Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Moderate Buy” and an average target price of $20.07.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 2,054 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.00, for a total value of $45,188.00. Following the sale, the insider now directly owns 185,326 shares in the company, valued at $4,077,172. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.47, for a total transaction of $3,110,985.36. Following the sale, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at $551,777.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Chi sold 2,054 shares of Hims & Hers Health stock in a transaction dated Thursday, August 1st. The stock was 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 563,833 shares of company stock worth $9,113,958. 17.71% of the stock is owned by corporate insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds have recently bought and sold shares of HIMS. Nisa Investment Advisors LLC lifted its stake in shares of Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after purchasing an additional 1,603 shares during the period. Quest Partners LLC lifted its position in Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after buying an additional 3,507 shares during the period. CWM LLC boosted its stake in Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after buying an additional 1,054 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Hims & Hers Health in the 2nd quarter valued at about $111,000. Finally, Amalgamated Bank increased its stake in shares of Hims & Hers Health by 55.9% during the 2nd quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock valued at $133,000 after acquiring an additional 2,354 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

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 firm’s 50-day moving average is $16.58 and its 200 day moving average is $17.47.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, August 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. The company had revenue of $315.65 million for the quarter, compared to the consensus estimate of $302.43 million. During the same period last year, the business posted ($0.03) EPS. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. On average, sell-side analysts forecast 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.