Hims & Hers Health (NYSE:HIMS) Trading 15.8% Higher – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price was up 15.8% on Monday . The company traded as high as $29.33 and last traded at $29.32. Approximately 2,155,659 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 9,491,215 shares. The stock had previously closed at $25.33.

Wall Street Analysts Forecast Growth

HIMS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group increased their target price on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price target on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Hims & Hers Health presently has a consensus rating of “Hold” and an average price target of $20.71.

Hims & Hers Health Stock Performance

The company has a 50 day moving average of $20.85 and a two-hundred day moving average of $19.44. The stock has a market capitalization of $6.70 billion, a PE ratio of 69.69 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company’s revenue was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. As a group, research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 101,993 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.62, for a total transaction of $3,021,032.66. Following the completion of the transaction, the chief financial officer now directly owns 109,392 shares of the company’s stock, valued at approximately $3,240,191.04. This trade represents a 48.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 2,345 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.65, for a total transaction of $34,354.25. Following the completion of the sale, the insider now directly owns 159,796 shares in the company, valued at $2,341,011.40. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,153,519 shares of company stock worth $24,486,721. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Hims & Hers Health by 5,944.1% during the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after purchasing an additional 3,507 shares in the last quarter. CWM LLC lifted its stake in shares of Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the period. Van ECK Associates Corp purchased a new stake in Hims & Hers Health during the second quarter worth $111,000. Finally, Quarry LP grew its position in Hims & Hers Health by 91.0% during the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after buying an additional 2,913 shares during the period. Hedge funds and other institutional investors 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.