Canaccord Genuity Group Issues Positive Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Hims & Hers Health (NYSE:HIMS) had its price objective lifted by Canaccord Genuity Group from $38.00 to $68.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. TD Cowen reissued a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Morgan Stanley cut Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $42.00 to $60.00 in a report on Tuesday. Needham & Company LLC upped their price target on Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Citigroup cut Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their price target for the company from $24.00 to $25.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.33.

Hims & Hers Health Price Performance

Shares of NYSE:HIMS opened at $68.87 on Wednesday. Hims & Hers Health has a 12 month low of $9.22 and a 12 month high of $72.98. The stock has a market cap of $15.05 billion, a price-to-earnings ratio of 156.54 and a beta of 1.35. The stock’s 50 day moving average price is $33.94 and its 200 day moving average price is $25.19.

Insiders Place Their Bets

In other news, CEO Andrew Dudum sold 33,513 shares of the business’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 transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at $1,118,296.76. The trade was a 50.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Soleil Boughton sold 2,343 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total transaction of $70,055.70. Following the transaction, the insider now owns 165,254 shares in the company, valued at approximately $4,941,094.60. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,052,332 shares of company stock worth $32,620,497. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings 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 worth $489,817,000 after purchasing an additional 2,020,722 shares in the last quarter. Farallon Capital Management LLC boosted 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 worth $202,556,000 after purchasing an additional 8,364,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Hims & Hers Health by 29.0% in 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. Arrowstreet Capital Limited Partnership boosted its holdings in Hims & Hers Health by 192.0% in 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. Finally, State Street Corp boosted its holdings in Hims & Hers Health by 4.7% in the third quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors.

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.