Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase – What’s Next?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Friday . 5,570,696 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 8,949,964 shares.The stock last traded at $25.99 and had previously closed at $27.94.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $32.00 to $18.00 in a report on Thursday, November 14th. BTIG Research initiated coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group upped their price objective on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Piper Sandler raised their target price on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health currently has an average rating of “Hold” and a consensus price target of $25.13.

Hims & Hers Health Trading Down 0.5 %

The company has a market cap of $6.07 billion, a P/E ratio of 63.19 and a beta of 1.31. The business’s 50 day simple moving average is $27.68 and its 200 day simple moving average is $21.85.

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 the consensus estimate of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s revenue was up 77.1% on a year-over-year basis. During the same period last year, the firm earned ($0.04) EPS. Sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity

In other news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the sale, the chief executive officer now owns 67,015 shares in the company, valued at $1,399,273.20. This trade represents a 73.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Chi sold 7,500 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $22.20, for a total transaction of $166,500.00. Following the transaction, the insider now owns 193,980 shares of the company’s stock, valued at approximately $4,306,356. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,080,208 shares of company stock worth $29,106,823 over the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Hims & Hers Health by 34.5% in the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after buying an additional 883,230 shares in the last quarter. Geode Capital Management LLC boosted its position 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 valued at $79,029,000 after acquiring an additional 482,177 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Hims & Hers Health by 164.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after acquiring an additional 328,142 shares during the last quarter. Carnegie Investment Counsel purchased a new position in shares of Hims & Hers Health in the third quarter valued at $5,531,000. Finally, Blueshift Asset Management LLC increased its position in Hims & Hers Health by 834.8% in the third quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company’s stock worth $4,513,000 after purchasing an additional 218,804 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.