Canaccord Genuity Group Increases Hims & Hers Health (NYSE:HIMS) Price Target to $28.00

Hims & Hers Health (NYSE:HIMS) had its target price increased by Canaccord Genuity Group from $24.00 to $28.00 in a report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. TD Cowen lifted their target price on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of Hims & Hers Health in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Needham & Company LLC began coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target for the company. Finally, Truist Financial upped their price objective on shares of Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.21.

Hims & Hers Health Price Performance

Hims & Hers Health stock opened at $23.42 on Tuesday. The business has a 50 day moving average of $18.57 and a 200-day moving average of $18.33. Hims & Hers Health has a 1 year low of $6.58 and a 1 year high of $25.74. The company has a market capitalization of $5.03 billion, a P/E ratio of 53.22 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.26. The firm had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) EPS. Equities analysts anticipate that Hims & Hers Health will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total transaction of $38,593.50. Following the transaction, the insider now owns 176,952 shares of the company’s stock, valued at $2,919,708. This trade represents a 0.00 % decrease in their position. 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 2,339 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total transaction of $38,593.50. Following the completion of the sale, the insider now directly owns 176,952 shares of the company’s stock, valued at $2,919,708. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick Harrison Carroll sold 15,000 shares of Hims & Hers Health stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $22.07, for a total value of $331,050.00. Following the sale, the insider now owns 196,941 shares in the company, valued at $4,346,487.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 854,547 shares of company stock valued at $15,987,230. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HIMS. Renaissance Technologies LLC raised its holdings in shares of Hims & Hers Health by 113.1% in the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after purchasing an additional 3,205,108 shares during the period. Farallon Capital Management LLC raised its stake in shares of Hims & Hers Health by 3,890.5% in the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after buying an additional 1,634,000 shares during the period. M&G Plc purchased a new position in shares of Hims & Hers Health during the 1st quarter valued at $8,232,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Hims & Hers Health by 164.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after acquiring an additional 328,142 shares during the period. Finally, State of Michigan Retirement System increased its holdings in Hims & Hers Health by 177.8% in the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after acquiring an additional 320,000 shares during the last quarter. 63.52% of the stock is owned by 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.