Hims & Hers Health (NYSE:HIMS) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Hims & Hers Health (NYSE:HIMS - Free Report) from a hold rating to a buy rating in a research report sent to investors on Sunday.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Piper Sandler restated a "neutral" rating and set a $39.00 target price (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. UBS Group set a $30.00 target price on Hims & Hers Health in a research report on Monday, June 23rd. Bank of America upped their target price on Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a research report on Tuesday, April 29th. Finally, Truist Financial increased their price target on Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of "Hold" and a consensus target price of $39.83.

Hims & Hers Health Stock Up 0.7%

Shares of HIMS stock traded up $0.37 during trading on Friday, reaching $50.36. 22,036,786 shares of the company's stock were exchanged, compared to its average volume of 24,206,590. The stock has a market capitalization of $11.27 billion, a PE ratio of 72.99, a PEG ratio of 1.85 and a beta of 2.02. Hims & Hers Health has a twelve month low of $13.47 and a twelve month high of $72.98. The firm's fifty day moving average price is $53.82 and its 200-day moving average price is $41.92.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. During the same period in the prior year, the company posted $0.05 EPS. The company's revenue was up 110.7% compared to the same quarter last year. As a group, analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 23,107 shares of Hims & Hers Health stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the completion of the sale, the chief financial officer owned 63,222 shares of the company's stock, valued at $2,987,239.50. The trade was a 26.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $58.40, for a total value of $7,482,616.80. Following the completion of the sale, the chief executive officer directly owned 89,311 shares of the company's stock, valued at approximately $5,215,762.40. This trade represents a 58.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 683,452 shares of company stock valued at $36,247,465 in the last ninety days. Corporate insiders own 13.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Hims & Hers Health during the 4th quarter worth approximately $18,048,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Hims & Hers Health during the 4th quarter worth approximately $208,000. Commonwealth Equity Services LLC grew its holdings in shares of Hims & Hers Health by 111.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 58,894 shares of the company's stock worth $1,424,000 after acquiring an additional 31,062 shares during the period. GAMMA Investing LLC grew its holdings in shares of Hims & Hers Health by 128.5% during the 1st quarter. GAMMA Investing LLC now owns 5,143 shares of the company's stock worth $152,000 after acquiring an additional 2,892 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in shares of Hims & Hers Health by 95.2% during the 1st quarter. New York State Teachers Retirement System now owns 194,795 shares of the company's stock worth $5,756,000 after acquiring an additional 94,983 shares during the period. Hedge funds and other institutional investors own 63.52% of the company's stock.

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.