Hims & Hers Health (NYSE:HIMS) Price Target Raised to $26.00 at Bank of America

Hims & Hers Health (NYSE:HIMS - Free Report) had its target price upped by Bank of America from $22.00 to $26.00 in a report released on Tuesday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other research firms have also recently weighed in on HIMS. Canaccord Genuity Group raised 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 lifted their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 25th. BTIG Research assumed coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a "buy" rating and a $35.00 target price for the company. Piper Sandler boosted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Finally, Truist Financial reduced their price target on shares of Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $36.92.

Hims & Hers Health Trading Up 7.3 %

NYSE HIMS traded up $2.66 on Tuesday, reaching $38.82. 13,809,562 shares of the stock were exchanged, compared to its average volume of 16,606,171. Hims & Hers Health has a one year low of $11.20 and a one year high of $72.98. The firm has a market capitalization of $8.62 billion, a PE ratio of 88.10 and a beta of 1.65. The company's 50-day simple moving average is $32.19 and its two-hundred day simple moving average is $31.30.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $481.14 million for the quarter, compared to analysts' expectations of $494.56 million. Sell-side analysts forecast that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the sale, the chief executive officer now directly owns 97,687 shares of the company's stock, valued at $5,692,221.49. This represents a 56.74 % 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 4,153 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $35.30, for a total value of $146,600.90. Following the completion of the sale, the insider now directly owns 161,497 shares in the company, valued at approximately $5,700,844.10. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 666,234 shares of company stock valued at $26,387,645 in the last ninety days. Insiders own 17.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in 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 buying an additional 2,020,722 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after acquiring an additional 8,364,000 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Hims & Hers Health by 29.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock valued at $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position 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 worth $152,436,000 after acquiring an additional 4,145,305 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Hims & Hers Health by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company's stock worth $104,724,000 after purchasing an additional 40,447 shares during the period. Institutional investors and hedge funds own 63.52% of the company's stock.

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.