Hims & Hers Health (NYSE:HIMS) Price Target Raised to $32.00

Hims & Hers Health (NYSE:HIMS) had its price target boosted by Truist Financial from $27.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 3.97% from the company’s previous close.

Several other research analysts have also weighed in on the company. Needham & Company LLC lifted their price objective on Hims & Hers Health from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft raised their target price on Hims & Hers Health from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. TD Cowen boosted their price target on Hims & Hers Health from $25.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Hims & Hers Health from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Hims & Hers Health in a research report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.50.

Hims & Hers Health Trading Down 8.9%

Shares of HIMS traded down $3.00 during trading hours on Monday, hitting $30.78. 8,122,470 shares of the stock were exchanged, compared to its average volume of 26,055,002. Hims & Hers Health has a fifty-two week low of $13.74 and a fifty-two week high of $65.30. The company has a debt-to-equity ratio of 4.21, a current ratio of 0.93 and a quick ratio of 0.87. The business has a 50-day moving average of $32.37 and a 200-day moving average of $26.14. The firm has a market capitalization of $7.18 billion, a P/E ratio of -48.88 and a beta of 2.40.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, August 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.32). The firm had revenue of $753.21 million during the quarter, compared to analyst estimates of $698.90 million. Hims & Hers Health had a negative net margin of 5.51% and a negative return on equity of 6.51%. Hims & Hers Health’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, research analysts expect that Hims & Hers Health will post -0.14 EPS for the current year.

Insider Activity

In other news, insider Patrick Harrison Carroll sold 23,726 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.00, for a total transaction of $830,410.00. Following the transaction, the insider directly owned 181,861 shares of the company’s stock, valued at $6,365,135. This represents a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Chi sold 14,027 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total value of $441,850.50. Following the completion of the transaction, the chief operating officer owned 432,124 shares in the company, valued at approximately $13,611,906. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 186,769 shares of company stock valued at $6,035,648. Corporate insiders own 11.76% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Hims & Hers Health by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 20,925,666 shares of the company’s stock valued at $679,456,000 after acquiring an additional 1,407,651 shares in the last quarter. California State Teachers Retirement System increased its holdings in Hims & Hers Health by 3,404.9% during the 2nd quarter. California State Teachers Retirement System now owns 8,000,068 shares of the company’s stock worth $277,362,000 after purchasing an additional 7,771,816 shares in the last quarter. State Street Corp raised its stake in shares of Hims & Hers Health by 1.8% in the fourth quarter. State Street Corp now owns 7,305,525 shares of the company’s stock worth $237,210,000 after purchasing an additional 132,311 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 5,509,764 shares of the company’s stock valued at $183,485,000 after purchasing an additional 608,950 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Hims & Hers Health by 194.4% during the first quarter. Bank of America Corp DE now owns 4,357,672 shares of the company’s stock valued at $90,465,000 after buying an additional 2,877,550 shares during the last quarter. 63.52% of the stock is owned by institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients’ doorsteps.

The company’s product portfolio addresses key areas of men’s and women’s health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.