Leerink Partners Increases Hims & Hers Health (NYSE:HIMS) Price Target to $40.00

Hims & Hers Health (NYSE:HIMS) had its price objective boosted by equities researchers at Leerink Partners from $24.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Leerink Partners’ price objective indicates a potential upside of 2.35% from the company’s previous close.

HIMS has been the topic of a number of other reports. BTIG Research assumed coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. Canaccord Genuity Group raised their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley lowered shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Piper Sandler raised their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, TD Cowen restated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.40.

Hims & Hers Health Price Performance

NYSE:HIMS traded down $12.23 during trading hours on Tuesday, reaching $39.08. 54,291,373 shares of the company traded hands, compared to its average volume of 20,145,240. The stock has a market cap of $8.54 billion, a P/E ratio of 88.69 and a beta of 1.35. Hims & Hers Health has a 1-year low of $9.67 and a 1-year high of $72.98. The firm’s 50-day moving average is $35.45 and its 200-day moving average is $26.08.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. As a group, research analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Andrew Dudum sold 33,513 shares of Hims & Hers Health 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 owns 33,502 shares in the company, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the sale, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,080,275 shares of company stock worth $37,247,354 over the last 90 days. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after purchasing an additional 2,020,722 shares during the period. Farallon Capital Management LLC raised its position in Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after buying an additional 8,364,000 shares during 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 valued at $168,079,000 after purchasing an additional 1,562,302 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock valued at $152,436,000 after purchasing an additional 4,145,305 shares in the last quarter. Finally, State Street Corp boosted its position in Hims & Hers Health by 4.7% during 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 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.