Hims & Hers Health (NYSE:HIMS) Price Target Raised to $22.00 at Bank of America

Hims & Hers Health (NYSE:HIMS) had its price objective raised by Bank of America from $21.00 to $22.00 in a report released on Tuesday morning,Benzinga reports. They currently have an underperform rating on the stock.

Several other equities analysts have also weighed in on HIMS. TD Cowen restated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Piper Sandler lifted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Truist Financial boosted their price objective on Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Needham & Company LLC boosted their price objective on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Leerink Partners boosted their price objective on 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Stock Down 9.3 %

Shares of Hims & Hers Health stock opened at $31.46 on Tuesday. Hims & Hers Health has a twelve month low of $11.20 and a twelve month high of $72.98. The business has a 50-day moving average price of $38.72 and a 200 day moving average price of $28.49. The firm has a market cap of $6.99 billion, a PE ratio of 71.49 and a beta of 1.37.

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

Insider Activity

In related news, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.75, for a total value of $7,462,863.00. Following the transaction, the insider now directly owns 169,803 shares in the company, valued at approximately $4,712,033.25. This represents a 61.30 % 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, insider Patrick Harrison Carroll sold 23,287 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $34.31, for a total value of $798,976.97. Following the completion of the transaction, the insider now owns 209,661 shares in the company, valued at $7,193,468.91. This represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,042,006 shares of company stock worth $36,830,024 over the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HIMS. Farallon Capital Management LLC lifted its holdings in 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 valued at $202,556,000 after acquiring an additional 8,364,000 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in 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 purchasing an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. lifted its stake in Hims & Hers Health by 11.1% during the fourth 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 in the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in Hims & Hers Health during the fourth quarter worth $41,104,000. Finally, Renaissance Technologies LLC lifted its stake in Hims & Hers Health by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. 63.52% of the stock is currently 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.