Hims & Hers Health (NYSE:HIMS) Given New $61.00 Price Target at Needham & Company LLC

Hims & Hers Health (NYSE:HIMS) had its price objective boosted by Needham & Company LLC from $31.00 to $61.00 in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group upped their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Piper Sandler upped their price objective 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. Citigroup downgraded shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their price objective for the company from $24.00 to $25.00 in a research note on Friday, January 10th. Finally, BTIG Research started coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.40.

Hims & Hers Health Trading Down 22.1 %

Hims & Hers Health stock opened at $39.95 on Tuesday. Hims & Hers Health has a twelve month low of $9.67 and a twelve month high of $72.98. The stock’s fifty day simple moving average is $35.62 and its 200-day simple moving average is $26.25. The firm has a market capitalization of $8.73 billion, a P/E ratio of 90.79 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Sell-side analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Andrew Dudum sold 33,513 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the completion of the transaction, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at $1,118,296.76. This represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Chi sold 17,303 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $48.14, for a total transaction of $832,966.42. Following the completion of the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $9,319,952.14. This trade represents a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,097,578 shares of company stock valued at $38,080,320 over the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in Hims & Hers Health in the fourth quarter valued at about $28,000. Raleigh Capital Management Inc. increased its holdings in Hims & Hers Health by 1,100.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,100 shares in the last quarter. Blume Capital Management Inc. increased its holdings in 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 buying an additional 600 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Hims & Hers Health by 4,415.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after buying an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Hims & Hers Health in the fourth quarter valued at about $38,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.