Truist Financial Increases Hims & Hers Health (NYSE:HIMS) Price Target to $48.00

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its target price raised by equities researchers at Truist Financial from $45.00 to $48.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price target would suggest a potential downside of 4.69% from the company's previous close.

A number of other research analysts have also commented on HIMS. Piper Sandler reiterated a "neutral" rating and set a $39.00 price target (up from $35.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Morgan Stanley reaffirmed an "equal weight" rating and set a $40.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $39.83.

Hims & Hers Health Stock Performance

Shares of Hims & Hers Health stock traded up $0.37 on Thursday, reaching $50.36. The stock had a trading volume of 22,036,786 shares, compared to its average volume of 24,108,796. The business's 50-day moving average price is $53.86 and its two-hundred day moving average price is $41.62. The stock has a market cap of $11.27 billion, a P/E ratio of 72.99, a price-to-earnings-growth ratio of 1.91 and a beta of 2.02. Hims & Hers Health has a fifty-two week low of $13.47 and a fifty-two week high of $72.98.

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

Insider Buying and Selling

In other news, insider Michael Chi sold 17,102 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total value of $1,021,844.50. Following the completion of the transaction, the insider owned 278,654 shares in the company, valued at approximately $16,649,576.50. The trade was a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Melissa Baird sold 33,333 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $25.78, for a total value of $859,324.74. Following the completion of the transaction, the chief operating officer directly owned 805,083 shares in the company, valued at $20,755,039.74. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 683,452 shares of company stock valued at $36,247,465. 13.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently bought and sold shares of HIMS. Farallon Capital Management LLC raised its stake in shares of Hims & Hers Health by 64,338.5% in the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after acquiring an additional 8,364,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Hims & Hers Health by 192.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock valued at $152,436,000 after purchasing an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. raised its position 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 worth $489,817,000 after purchasing an additional 2,020,722 shares during the last quarter. Nuveen LLC acquired a new position in Hims & Hers Health during the 1st quarter worth $58,403,000. Finally, Renaissance Technologies LLC lifted its holdings in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock worth $168,079,000 after buying an additional 1,562,302 shares in the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

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.