Hims & Hers Health (NYSE:HIMS) Stock Price Up 2.1% Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price shot up 2.1% during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $21.00 to $22.00. Bank of America currently has an underperform rating on the stock. Hims & Hers Health traded as high as $32.48 and last traded at $32.16. 4,084,887 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 13,527,909 shares. The stock had previously closed at $31.49.

A number of other research firms have also weighed in on HIMS. Needham & Company LLC boosted their price target 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, February 25th. Morgan Stanley cut Hims & Hers Health from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. TD Cowen restated a "buy" rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Canaccord Genuity Group lifted their price target on Hims & Hers Health from $38.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, Piper Sandler raised their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $37.31.

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Insider Activity at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 4,213 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $29.98, for a total transaction of $126,305.74. Following the sale, the chief financial officer now directly owns 128,365 shares of the company's stock, valued at $3,848,382.70. This represents a 3.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $33.98, for a total value of $4,353,755.46. Following the sale, the chief executive officer now owns 173,655 shares in the company, valued at approximately $5,900,796.90. This trade represents a 42.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,015,547 shares of company stock worth $36,146,450. Insiders own 17.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently modified their holdings of the company. Main Management ETF Advisors LLC purchased a new position in shares of Hims & Hers Health during the third quarter worth approximately $672,000. Blueshift Asset Management LLC raised its holdings in Hims & Hers Health by 834.8% during the third quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company's stock worth $4,513,000 after purchasing an additional 218,804 shares in the last quarter. Means Investment CO. Inc. lifted its position in Hims & Hers Health by 23.5% in the fourth quarter. Means Investment CO. Inc. now owns 50,040 shares of the company's stock valued at $1,210,000 after purchasing an additional 9,508 shares during the period. Principal Financial Group Inc. lifted its position in Hims & Hers Health by 102.0% in the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company's stock valued at $5,349,000 after purchasing an additional 146,621 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Hims & Hers Health in the 4th quarter valued at approximately $2,628,000. Institutional investors and hedge funds own 63.52% of the company's stock.

Hims & Hers Health Stock Performance

The company has a market cap of $7.72 billion, a price-to-earnings ratio of 79.02 and a beta of 1.37. The company has a 50-day simple moving average of $39.21 and a 200-day simple moving average of $28.79.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $481.14 million during the quarter, compared to analysts' expectations of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. As a group, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

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.