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

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price 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 changing hands. The stock had previously closed at $58.50.

Several other research firms also recently issued reports on HIMS. 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. Piper Sandler lifted their price target on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Morgan Stanley lowered shares of Hims & Hers Health from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $42.00 to $60.00 in a research note on Tuesday. Needham & Company LLC boosted 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, Canaccord Genuity Group increased their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $28.53.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Michael Chi sold 2,054 shares of Hims & Hers Health stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the transaction, the insider now directly owns 184,947 shares of the company's stock, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 4,152 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the sale, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,184,611 shares of company stock valued at $40,338,442. Corporate insiders own 17.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in HIMS. CWM LLC raised its holdings in shares of Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company's stock worth $110,000 after acquiring an additional 1,054 shares in the last quarter. Creative Planning lifted its holdings in Hims & Hers Health by 18.1% in the third quarter. Creative Planning now owns 25,925 shares of the company's stock valued at $478,000 after acquiring an additional 3,979 shares during the period. Venture Visionary Partners LLC acquired a new position in Hims & Hers Health in the 3rd quarter valued at $238,000. International Assets Investment Management LLC purchased a new position in shares of Hims & Hers Health during the 3rd quarter worth $6,790,000. Finally, Dakota Wealth Management acquired a new stake in Hims & Hers Health in the 3rd quarter valued at about $245,000. Hedge funds and other institutional investors own 63.52% of the company's stock.

Hims & Hers Health Trading Down 23.5 %

The business has a 50 day moving average of $34.66 and a 200-day moving average of $25.48. The stock has a market cap of $11.11 billion, a PE ratio of 117.89 and a beta of 1.35.

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.