Hims & Hers Health (NYSE:HIMS) Price Target Raised to $22.00

Hims & Hers Health (NYSE:HIMS - Free Report) had its target price hoisted by Bank of America from $21.00 to $22.00 in a research report released on Tuesday,Benzinga reports. They currently have an underperform rating on the stock.

Several other brokerages have also weighed in on HIMS. Morgan Stanley lowered Hims & Hers Health from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Citigroup reaffirmed a "sell" rating and issued a $27.00 price objective on shares of Hims & Hers Health in a report on Thursday, March 6th. Canaccord Genuity Group boosted their target price 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. Leerink Partners raised their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a "market perform" rating in a research note on Tuesday, February 25th. Finally, BTIG Research began coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They set a "buy" rating and a $35.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health has a consensus rating of "Hold" and a consensus target price of $37.31.

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Hims & Hers Health Stock Performance

Shares of Hims & Hers Health stock traded up $2.62 during trading hours on Tuesday, reaching $34.11. The company's stock had a trading volume of 12,029,325 shares, compared to its average volume of 13,563,414. Hims & Hers Health has a one year low of $11.20 and a one year high of $72.98. The company's 50 day simple moving average is $38.72 and its 200 day simple moving average is $28.49. The stock has a market cap of $7.58 billion, a P/E ratio of 78.53 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million for 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%. On average, sell-side analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Patrick Harrison Carroll sold 23,287 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total transaction of $798,976.97. Following the completion of the sale, the insider now directly owns 209,661 shares of the company's stock, valued at $7,193,468.91. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the transaction, the insider now owns 157,345 shares in the company, valued at $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,042,006 shares of company stock valued at $36,830,024 over the last three months. Company insiders own 17.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of HIMS. Farallon Capital Management LLC lifted its stake in Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after buying an additional 8,364,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Hims & Hers Health by 192.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock valued at $152,436,000 after acquiring an additional 4,145,305 shares during the period. Vanguard Group Inc. lifted its position in shares of Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after acquiring an additional 2,020,722 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in Hims & Hers Health in the 4th quarter worth approximately $41,104,000. Finally, Renaissance Technologies LLC grew its position in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock worth $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

About Hims & Hers Health

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.