Hims & Hers Health (NYSE:HIMS) Price Target Raised to $31.00

Hims & Hers Health (NYSE:HIMS) had its target price upped by Needham & Company LLC from $28.00 to $31.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on HIMS. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler restated a “neutral” rating and issued a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Morgan Stanley began coverage on Hims & Hers Health in a report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Hims & Hers Health currently has an average rating of “Hold” and a consensus target price of $24.80.

Hims & Hers Health Stock Performance

NYSE:HIMS opened at $25.74 on Monday. The company has a 50-day moving average of $26.97 and a 200-day moving average of $21.59. Hims & Hers Health has a 52 week low of $8.14 and a 52 week high of $35.02. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 58.50 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. Sell-side analysts forecast that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.41, for a total transaction of $47,738.99. Following the completion of the sale, the insider now owns 172,274 shares in the company, valued at approximately $3,516,112.34. The trade was a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Oluyemi Okupe sold 269,739 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the transaction, the chief financial officer now directly owns 145,763 shares in the company, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,333,446 shares of company stock valued at $34,175,197 over the last ninety days. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of Hims & Hers Health by 113.1% in the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after acquiring an additional 3,205,108 shares during the period. State Street Corp boosted its position in shares of Hims & Hers Health by 4.7% during the third quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after buying an additional 482,177 shares during the period. Wellington Management Group LLP grew its stake in Hims & Hers Health by 34.5% in the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after acquiring an additional 883,230 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Hims & Hers Health by 15.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock worth $30,714,000 after purchasing an additional 218,566 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.