Hims & Hers Health (NYSE:HIMS) Shares Up 9.6% – What’s Next?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price shot up 9.6% during trading on Monday . The company traded as high as $58.60 and last traded at $56.96. 29,033,892 shares traded hands during mid-day trading, an increase of 58% from the average session volume of 18,399,965 shares. The stock had previously closed at $51.96.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HIMS. Leerink Partners boosted their target price on Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research note on Tuesday, February 25th. TD Cowen downgraded Hims & Hers Health from a “buy” rating to a “hold” rating and dropped their target price for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Citigroup reaffirmed a “sell” rating and set a $30.00 price target (up from $25.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $61.00 price objective on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Hims & Hers Health has a consensus rating of “Hold” and a consensus price target of $37.67.

Hims & Hers Health Stock Up 6.3%

The stock has a market cap of $12.36 billion, a P/E ratio of 125.54 and a beta of 1.84. The business has a 50 day moving average price of $32.97 and a two-hundred day moving average price of $32.51.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $586.01 million during the quarter, compared to analyst estimates of $535.21 million. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was up 110.7% on a year-over-year basis. On average, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In related news, COO Melissa Baird sold 67,687 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $44.71, for a total transaction of $3,026,285.77. Following the completion of the transaction, the chief operating officer now directly owns 706,872 shares of the company’s stock, valued at approximately $31,604,247.12. This represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Soleil Boughton sold 4,152 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the transaction, the insider now directly owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. The trade was a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 631,660 shares of company stock valued at $24,978,043. Insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several institutional investors have recently modified their holdings of HIMS. Barclays PLC raised its holdings in shares of Hims & Hers Health by 9.7% in the third quarter. Barclays PLC now owns 308,363 shares of the company’s stock worth $5,680,000 after buying an additional 27,231 shares during the period. GAMMA Investing LLC increased its holdings in shares of Hims & Hers Health by 2,173.7% in the 4th quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock valued at $54,000 after acquiring an additional 2,152 shares during the period. Cadent Capital Advisors LLC increased its holdings in shares of Hims & Hers Health by 1.5% in the 4th quarter. Cadent Capital Advisors LLC now owns 72,160 shares of the company’s stock valued at $1,745,000 after acquiring an additional 1,060 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new position in Hims & Hers Health during the 4th quarter worth $445,000. Finally, Carnegie Investment Counsel grew its stake in Hims & Hers Health by 25.5% during the 4th quarter. Carnegie Investment Counsel now owns 376,910 shares of the company’s stock worth $9,114,000 after buying an additional 76,650 shares during the last quarter. 63.52% of the stock is owned by institutional investors.

About Hims & Hers Health

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.