Truist Financial Issues Positive Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Hims & Hers Health (NYSE:HIMS) had its price target hoisted by analysts at Truist Financial from $24.00 to $39.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential downside of 5.56% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Needham & Company LLC upped their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen restated a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Canaccord Genuity Group upped their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Citigroup upped their target price on shares of Hims & Hers Health from $25.00 to $27.00 and gave the stock a “sell” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Hims & Hers Health presently has a consensus rating of “Hold” and an average price target of $35.71.

Hims & Hers Health Price Performance

HIMS opened at $41.30 on Wednesday. The firm has a fifty day moving average price of $36.19 and a 200 day moving average price of $26.46. The stock has a market cap of $9.02 billion, a P/E ratio of 93.85 and a beta of 1.35. Hims & Hers Health has a 1 year low of $11.20 and a 1 year high of $72.98.

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

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the transaction, the insider now owns 169,803 shares of the company’s stock, valued at $4,712,033.25. This represents a 61.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Chi sold 2,054 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the sale, the insider now directly owns 184,947 shares in the company, valued at $6,206,821.32. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,097,578 shares of company stock valued at $38,080,320. 17.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently made changes to their positions in the business. Main Management ETF Advisors LLC acquired a new stake in shares of Hims & Hers Health during the third quarter worth about $672,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Hims & Hers Health during the third quarter worth about $604,000. Royce & Associates LP lifted its position in shares of Hims & Hers Health by 17.0% during the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after purchasing an additional 49,500 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Hims & Hers Health during the third quarter worth about $634,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Hims & Hers Health during the third quarter worth about $6,790,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.