Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase Following Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) saw strong trading volume on Tuesday after Bank of America raised their price target on the stock from $22.00 to $26.00. Bank of America currently has an underperform rating on the stock. 45,839,322 shares traded hands during trading, an increase of 189% from the previous session's volume of 15,868,315 shares.The stock last traded at $35.51 and had previously closed at $28.48.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler raised their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Citigroup decreased their target price on shares of Hims & Hers Health from $27.00 to $25.00 and set a "sell" rating on the stock in a research note on Friday. Morgan Stanley decreased their target price on shares of Hims & Hers Health from $60.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Tuesday. BTIG Research initiated 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 on the stock. Finally, TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price objective for the company from $44.00 to $30.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $36.92.

Insider Buying and Selling at Hims & Hers Health

In other news, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the transaction, the chief executive officer now owns 97,687 shares of the company's stock, valued at $5,692,221.49. The trade was a 56.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 712,998 shares of company stock valued at $27,992,450. Company insiders own 17.71% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HIMS. Crewe Advisors LLC acquired a new stake in Hims & Hers Health in the 4th quarter worth approximately $28,000. Raleigh Capital Management Inc. boosted its stake in Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,100 shares in the last quarter. Blume Capital Management Inc. boosted its stake in Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 600 shares in the last quarter. UMB Bank n.a. lifted its stake in Hims & Hers Health by 247.5% during the 1st quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock valued at $39,000 after acquiring an additional 933 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock valued at $36,000 after acquiring an additional 1,413 shares during the period. Hedge funds and other institutional investors own 63.52% of the company's stock.

Hims & Hers Health Stock Performance

The firm's 50 day simple moving average is $33.44 and its 200 day simple moving average is $31.15. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 81.50 and a beta of 1.65.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating the consensus estimate 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 business had revenue of $481.14 million during the quarter, compared to analysts' expectations of $494.56 million. As a group, sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share 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.

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