Hims & Hers Health (NYSE:HIMS) Stock Price Expected to Rise, Truist Financial Analyst Says

Hims & Hers Health (NYSE:HIMS) had its target price boosted by Truist Financial from $24.00 to $39.00 in a research report released on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other equities analysts have also issued reports about the stock. Citigroup increased their price target on shares of Hims & Hers Health from $25.00 to $27.00 and gave the company a “sell” rating in a research note on Tuesday. Needham & Company LLC lifted 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 note on Tuesday. TD Cowen restated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Bank of America lifted their target price on Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.47.

Hims & Hers Health Stock Up 5.0 %

NYSE:HIMS opened at $41.87 on Wednesday. The stock’s fifty day moving average is $35.89 and its two-hundred day moving average is $26.36. Hims & Hers Health has a 52 week low of $11.20 and a 52 week high of $72.98. The company has a market capitalization of $9.15 billion, a P/E ratio of 95.15 and a beta of 1.35.

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

Insider Activity

In related news, CEO Andrew Dudum sold 33,513 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the completion of the sale, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $1,118,296.76. This represents a 50.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.56, for a total value of $68,932.24. Following the completion of the transaction, the insider now directly owns 184,947 shares in the company, valued at $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,097,578 shares of company stock valued at $38,080,320 in the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after acquiring an additional 2,020,722 shares in the last quarter. Farallon Capital Management LLC grew 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 purchasing an additional 8,364,000 shares in the last quarter. Renaissance Technologies LLC increased its stake 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 during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after buying an additional 4,145,305 shares in the last quarter. Finally, State Street Corp boosted its position in Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after buying an additional 206,078 shares during the last quarter. Institutional investors and hedge funds 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.