Hims & Hers Health (NYSE:HIMS) Sets New 52-Week High After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $18.00 to $21.00. Bank of America currently has an underperform rating on the stock. Hims & Hers Health traded as high as $67.21 and last traded at $67.62, with a volume of 5741452 shares. The stock had previously closed at $58.50.

Several other research firms have also recently commented on HIMS. Morgan Stanley cut Hims & Hers Health from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $42.00 to $60.00 in a report on Tuesday. Canaccord Genuity Group raised their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday. Piper Sandler boosted their target price on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Needham & Company LLC increased their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, TD Cowen reissued a "buy" rating and set a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.53.

Insider Buying and Selling

In other Hims & Hers Health news, CEO Andrew Dudum sold 33,513 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was 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 owns 33,502 shares of the company's stock, valued at approximately $1,118,296.76. This trade represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Melissa Baird sold 85,561 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $31.01, for a total value of $2,653,246.61. Following the completion of the sale, the chief operating officer now owns 630,986 shares in the company, valued at $19,566,875.86. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,184,611 shares of company stock worth $40,338,442 in the last ninety days. Insiders own 17.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp lifted its stake in shares of Hims & Hers Health by 44.6% during the fourth quarter. Mackenzie Financial Corp now owns 29,096 shares of the company's stock valued at $704,000 after buying an additional 8,977 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Hims & Hers Health in the 4th quarter valued at $99,000. Neo Ivy Capital Management lifted its stake in shares of Hims & Hers Health by 145.4% during the 4th quarter. Neo Ivy Capital Management now owns 166,734 shares of the company's stock worth $4,031,000 after purchasing an additional 98,798 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Hims & Hers Health during the fourth quarter worth $234,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Hims & Hers Health by 31.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 340,156 shares of the company's stock worth $8,225,000 after purchasing an additional 81,495 shares during the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

Hims & Hers Health Price Performance

The firm has a market cap of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35. The stock has a 50-day moving average price of $35.05 and a 200 day moving average price of $25.70.

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.