Traders Buy High Volume of Hims & Hers Health Call Options (NYSE:HIMS)

Hims & Hers Health, Inc. (NYSE:HIMS) saw unusually large options trading activity on Monday. Stock investors purchased 67,660 call options on the stock. This represents an increase of 52% compared to the average volume of 44,492 call options.

Insiders Place Their Bets

In related news, insider Soleil Boughton sold 2,345 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 represents a 1.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the sale, the chief executive officer now directly owns 33,502 shares in the company, valued at approximately $487,789.12. The trade was a 84.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,153,519 shares of company stock worth $24,486,721 in the last three months. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HIMS. Vanguard Group Inc. boosted its position in Hims & Hers Health by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock worth $221,379,000 after purchasing an additional 136,907 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Hims & Hers Health by 113.1% in the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after buying an additional 3,205,108 shares in the last quarter. State Street Corp raised its position in shares of Hims & Hers Health by 4.7% in the third quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after acquiring an additional 206,078 shares during the period. Geode Capital Management LLC boosted its stake in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after acquiring an additional 482,177 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after purchasing an additional 883,230 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

Hims & Hers Health stock opened at $30.67 on Wednesday. The business’s 50-day simple moving average is $20.85 and its two-hundred day simple moving average is $19.44. The company has a market cap of $6.70 billion, a PE ratio of 69.73 and a beta of 1.06. Hims & Hers Health has a fifty-two week low of $8.09 and a fifty-two week high of $31.68.

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

Wall Street Analysts Forecast Growth

HIMS has been the topic of a number of recent analyst reports. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC initiated coverage on Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.71.

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.