Hims & Hers Health (NYSE:HIMS) PT Raised to $24.00 at Canaccord Genuity Group

Hims & Hers Health (NYSE:HIMS) had its price objective raised by Canaccord Genuity Group from $20.00 to $24.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on HIMS. SVB Leerink started coverage on Hims & Hers Health in a report on Monday, February 26th. They issued a market perform rating and a $10.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price target on Hims & Hers Health from $14.00 to $16.00 and gave the company a hold rating in a research note on Tuesday, May 7th. Leerink Partnrs reaffirmed a market perform rating on shares of Hims & Hers Health in a research note on Monday, February 26th. Truist Financial increased their price target on Hims & Hers Health from $10.00 to $13.00 and gave the company a hold rating in a research note on Tuesday, February 27th. Finally, Guggenheim increased their price target on Hims & Hers Health from $15.00 to $17.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Hims & Hers Health has a consensus rating of Moderate Buy and an average price target of $15.69.

Hims & Hers Health Price Performance

Shares of HIMS stock opened at $16.18 on Wednesday. Hims & Hers Health has a 12-month low of $5.65 and a 12-month high of $20.11. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -1,618.00 and a beta of 0.97. The business has a 50 day simple moving average of $14.08 and a 200 day simple moving average of $11.01.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. The business had revenue of $278.20 million during the quarter, compared to analyst estimates of $270.37 million. During the same period in the prior year, the company posted ($0.05) EPS. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, equities analysts anticipate that Hims & Hers Health will post 0.18 EPS for the current fiscal year.

Insider Activity

In other news, insider Soleil Boughton sold 2,503 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.65, for a total value of $39,171.95. Following the completion of the sale, the insider now owns 166,866 shares in the company, valued at $2,611,452.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Soleil Boughton sold 2,503 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.65, for a total value of $39,171.95. Following the completion of the sale, the insider now owns 166,866 shares in the company, valued at $2,611,452.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christiane Pendarvis sold 4,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $12.33, for a total value of $49,320.00. Following the completion of the sale, the director now owns 11,210 shares of the company’s stock, valued at approximately $138,219.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 594,553 shares of company stock worth $8,454,738. Insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Graham Capital Management L.P. raised its holdings in shares of Hims & Hers Health by 39.4% during the third quarter. Graham Capital Management L.P. now owns 340,338 shares of the company’s stock worth $2,141,000 after acquiring an additional 96,277 shares in the last quarter. Forerunner Ventures Management LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter worth $86,836,000. Swiss National Bank raised its holdings in shares of Hims & Hers Health by 9.2% during the third quarter. Swiss National Bank now owns 309,200 shares of the company’s stock worth $1,945,000 after acquiring an additional 26,100 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hims & Hers Health by 3.1% during the third quarter. Vanguard Group Inc. now owns 14,126,744 shares of the company’s stock worth $88,857,000 after acquiring an additional 428,671 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Hims & Hers Health by 11.5% during the third quarter. Bank of New York Mellon Corp now owns 564,501 shares of the company’s stock worth $3,551,000 after acquiring an additional 58,288 shares in the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.