Hims & Hers Health (NYSE:HIMS) Shares Gap Up - Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $31.25, but opened at $32.20. Hims & Hers Health shares last traded at $32.14, with a volume of 3,528,936 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley began coverage on Hims & Hers Health in a report on Tuesday. They set an "overweight" rating and a $42.00 target price on the stock. TD Cowen reissued a "buy" rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Piper Sandler reiterated a "neutral" rating and issued a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target 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. Finally, Canaccord Genuity Group raised their price objective on Hims & Hers Health from $28.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.80.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $6.80 billion, a P/E ratio of 70.09 and a beta of 1.25. The firm has a 50 day simple moving average of $25.02 and a two-hundred day simple moving average of $21.06.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analysts' expectations of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. Sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Oluyemi Okupe sold 12,651 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $16.79, for a total value of $212,410.29. Following the completion of the sale, the chief financial officer now owns 211,000 shares of the company's stock, valued at $3,542,690. This trade represents a 5.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Dudum sold 45,767 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $16.33, for a total value of $747,375.11. Following the completion of the transaction, the chief executive officer now directly owns 67,015 shares of the company's stock, valued at $1,094,354.95. This represents a 40.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,064,976 shares of company stock valued at $25,396,895 over the last quarter. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HIMS. Renaissance Technologies LLC grew its stake in shares of Hims & Hers Health by 113.1% in the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company's stock worth $121,936,000 after acquiring an additional 3,205,108 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 worth $63,446,000 after purchasing an additional 883,230 shares in the last quarter. Geode Capital Management LLC boosted its stake in Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company's stock worth $79,029,000 after purchasing an additional 482,177 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in 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 purchasing an additional 328,142 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in Hims & Hers Health by 177.8% during the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company's stock valued at $10,095,000 after purchasing an additional 320,000 shares in 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 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.