Hims & Hers Health (NYSE:HIMS) Shares Gap Up Following Strong Earnings

Hims & Hers Health, Inc. (NYSE:HIMS) shares gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $20.76, but opened at $22.08. Hims & Hers Health shares last traded at $20.72, with a volume of 8,631,906 shares changing hands.

The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. Hims & Hers Health’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period last year, the company posted ($0.04) earnings per share.

Wall Street Analysts Forecast Growth

HIMS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price target on Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on shares of Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Truist Financial increased their price objective on shares of Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Finally, TD Cowen lifted their price target on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Hims & Hers Health currently has an average rating of “Moderate Buy” and a consensus target price of $20.71.

Insider Transactions at Hims & Hers Health

In other news, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total value of $54,171.24. Following the transaction, the insider now directly owns 169,935 shares in the company, valued at approximately $3,935,694.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Hims & Hers Health news, Director Christiane Pendarvis sold 7,000 shares of Hims & Hers Health stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $15.15, for a total transaction of $106,050.00. Following the completion of the sale, the director now directly owns 23,917 shares of the company’s stock, valued at $362,342.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $23.16, for a total value of $54,171.24. Following the transaction, the insider now directly owns 169,935 shares in the company, valued at $3,935,694.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,659 shares of company stock worth $11,712,198. 17.71% of the stock is currently owned by insiders.

Institutional Trading of Hims & Hers Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Hims & Hers Health by 164.9% during the third quarter. Victory Capital Management Inc. now owns 51,577 shares of the company’s stock valued at $950,000 after buying an additional 32,108 shares during the period. WealthPlan Investment Management LLC bought a new stake in Hims & Hers Health during the 3rd quarter valued at $1,042,000. Versor Investments LP purchased a new position in shares of Hims & Hers Health in the 3rd quarter valued at $634,000. Los Angeles Capital Management LLC raised its position in shares of Hims & Hers Health by 40.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 40,353 shares of the company’s stock worth $743,000 after acquiring an additional 11,686 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Hims & Hers Health by 30.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 123,587 shares of the company’s stock worth $2,276,000 after purchasing an additional 28,600 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Price Performance

The business has a 50-day moving average of $18.10 and a two-hundred day moving average of $18.19. The company has a market cap of $4.43 billion, a P/E ratio of 258.03 and a beta of 1.06.

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.