Hims & Hers Health (NYSE:HIMS) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Hims & Hers Health (NYSE:HIMS) in a research note issued to investors on Wednesday morning, Briefing.com reports. The firm issued a buy rating and a $20.00 target price on the stock.

Several other equities analysts have also commented on HIMS. Truist Financial increased their price target on shares of Hims & Hers Health from $10.00 to $13.00 and gave the company a hold rating in a research note on Tuesday, February 27th. Guggenheim increased their price target on shares of Hims & Hers Health from $15.00 to $17.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Leerink Partnrs reiterated a market perform rating on shares of Hims & Hers Health in a research note on Monday, February 26th. SVB Leerink started coverage on shares of Hims & Hers Health in a research note on Monday, February 26th. They issued a market perform rating and a $10.00 price target on the stock. Finally, Tigress Financial increased their price target on shares of Hims & Hers Health from $14.00 to $15.00 and gave the company a buy rating in a research note on Friday, January 5th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health currently has a consensus rating of Moderate Buy and an average price target of $14.46.

Hims & Hers Health Price Performance

Hims & Hers Health stock opened at $14.55 on Wednesday. The stock has a market cap of $3.12 billion, a PE ratio of -132.23 and a beta of 0.91. The stock’s fifty day moving average is $12.99 and its two-hundred day moving average is $9.54. Hims & Hers Health has a 1-year low of $5.65 and a 1-year high of $17.16.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, February 26th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $246.60 million for the quarter, compared to analyst estimates of $245.84 million. Hims & Hers Health had a negative return on equity of 7.21% and a negative net margin of 2.70%. The business’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. On average, research analysts expect that Hims & Hers Health will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Hims & Hers Health

In related news, insider Soleil Boughton sold 22,839 shares of Hims & Hers Health stock in a transaction on Monday, February 12th. The shares were sold at an average price of $10.03, for a total value of $229,075.17. Following the transaction, the insider now directly owns 154,345 shares in the company, valued at approximately $1,548,080.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Soleil Boughton sold 22,839 shares of Hims & Hers Health stock in a transaction on Monday, February 12th. The shares were sold at an average price of $10.03, for a total value of $229,075.17. Following the transaction, the insider now directly owns 154,345 shares in the company, valued at approximately $1,548,080.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Irene Becklund sold 2,747 shares of Hims & Hers Health stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $12.08, for a total transaction of $33,183.76. Following the completion of the transaction, the insider now owns 5,494 shares in the company, valued at $66,367.52. The disclosure for this sale can be found here. Insiders have sold a total of 673,335 shares of company stock worth $8,452,208 in the last three months. Insiders own 31.63% of the company’s stock.

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. Swiss National Bank lifted its holdings in Hims & Hers Health by 7.9% in the first quarter. Swiss National Bank now owns 185,000 shares of the company’s stock valued at $986,000 after acquiring an additional 13,500 shares during the period. Citigroup Inc. lifted its holdings in Hims & Hers Health by 249.9% in the first quarter. Citigroup Inc. now owns 34,718 shares of the company’s stock valued at $185,000 after acquiring an additional 24,796 shares during the period. Ergoteles LLC acquired a new stake in Hims & Hers Health in the first quarter valued at $949,000. Charles Schwab Investment Management Inc. lifted its holdings in Hims & Hers Health by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 616,214 shares of the company’s stock valued at $3,285,000 after acquiring an additional 14,990 shares during the period. Finally, Northern Trust Corp lifted its holdings in Hims & Hers Health by 1.3% in the first quarter. Northern Trust Corp now owns 253,307 shares of the company’s stock valued at $1,350,000 after acquiring an additional 3,226 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.