Hims & Hers Health (NYSE:HIMS) Shares Gap Up – Time to Buy?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up prior to trading on Monday . The stock had previously closed at $26.20, but opened at $26.93. Hims & Hers Health shares last traded at $26.24, with a volume of 3,075,345 shares traded.

Wall Street Analyst Weigh In

HIMS has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Bank of America downgraded Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group increased their price objective on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Stock Up 2.0 %

The firm’s 50-day moving average is $26.03 and its 200-day moving average is $21.36. The company has a market capitalization of $6.15 billion, a PE ratio of 63.98 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.06 by $0.26. The firm 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 period in the prior year, the company earned ($0.04) EPS. As a group, equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity

In related news, CFO Oluyemi Okupe sold 18,959 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $25.77, for a total transaction of $488,573.43. Following the completion of the sale, the chief financial officer now directly owns 132,578 shares in the company, valued at $3,416,535.06. This represents a 12.51 % decrease in their position. The transaction was disclosed in a filing 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 on Tuesday, November 5th. The stock was sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the completion of the sale, the chief executive officer now directly owns 67,015 shares in the company, valued at approximately $1,399,273.20. This trade represents a 73.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,111,616 shares of company stock valued at $27,448,767. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of 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 buying an additional 1,603 shares during the period. Quest Partners LLC boosted its stake in Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after acquiring an additional 3,507 shares in the last quarter. CWM LLC grew its holdings in Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares during the period. Van ECK Associates Corp bought a new position in shares of Hims & Hers Health during the second quarter valued at approximately $111,000. Finally, Quarry LP lifted its holdings in shares of 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 purchasing an additional 2,913 shares during the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Company Profile

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.