Hims & Hers Health (NYSE:HIMS) Shares Up 3.6% – Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price was up 3.6% during mid-day trading on Thursday . The stock traded as high as $29.47 and last traded at $29.16. Approximately 1,420,068 shares changed hands during trading, a decline of 86% from the average daily volume of 10,024,792 shares. The stock had previously closed at $28.15.

Analysts Set New Price Targets

A number of equities research analysts have commented on HIMS shares. Canaccord Genuity Group increased their target price on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. TD Cowen reissued a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Finally, Morgan Stanley initiated coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Stock Down 6.8 %

The stock has a fifty day moving average of $26.37 and a two-hundred day moving average of $21.49. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 60.37 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. Equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Melissa Baird sold 58,750 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $19.57, for a total transaction of $1,149,737.50. Following the transaction, the chief operating officer now directly owns 630,166 shares of the company’s stock, valued at approximately $12,332,348.62. The trade was a 8.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the transaction, the chief financial officer now owns 145,763 shares of the company’s stock, valued at approximately $2,960,446.53. This represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,133,132 shares of company stock worth $28,059,037 over the last ninety days. 17.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quest Partners LLC grew its holdings in 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 boosted its position in 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 buying an additional 1,054 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Hims & Hers Health during the second quarter valued at about $111,000. Quarry LP increased its position 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 worth $113,000 after acquiring an additional 2,913 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Hims & Hers Health by 55.9% during the second quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock worth $133,000 after acquiring an additional 2,354 shares during the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

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.