Hims & Hers Health (NYSE:HIMS) Trading Up 8.9% – Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS) shares shot up 8.9% during mid-day trading on Tuesday . The company traded as high as $33.70 and last traded at $32.19. 18,141,457 shares traded hands during trading, a decline of 18% from the average session volume of 22,197,922 shares. The stock had previously closed at $29.55.

Analyst Ratings Changes

HIMS has been the topic of several research reports. Citigroup restated a “sell” rating and set a $27.00 price target on shares of Hims & Hers Health in a research note on Thursday, March 6th. Leerink Partners upped their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 25th. Piper Sandler lifted their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Bank of America increased their target price on Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a research report on Tuesday, March 18th. Finally, Needham & Company LLC boosted their price target on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.31.

Hims & Hers Health Price Performance

The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 63.60 and a beta of 1.37. The company’s fifty day moving average price is $39.97 and its 200-day moving average price is $29.79.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business 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%. On average, sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 11,581 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $24.44, for a total transaction of $283,039.64. Following the completion of the transaction, the chief financial officer now directly owns 118,077 shares in the company, valued at approximately $2,885,801.88. This represents a 8.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the transaction, the insider now owns 169,803 shares in the company, valued at $4,712,033.25. The trade was a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,064,954 shares of company stock valued at $37,984,259 in the last ninety days. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after buying an additional 2,020,722 shares during the period. Farallon Capital Management LLC grew its stake 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 purchasing an additional 8,364,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Hims & Hers Health by 29.0% during the 4th 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 during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock valued at $152,436,000 after buying an additional 4,145,305 shares during the period. Finally, State Street Corp boosted its stake in shares of Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after buying an additional 206,078 shares during the period. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.