Hims & Hers Health (NYSE:HIMS) Trading Up 8.3% - Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price was up 8.3% during mid-day trading on Tuesday . The company traded as high as $37.69 and last traded at $37.33. Approximately 8,905,548 shares changed hands during trading, a decline of 33% from the average daily volume of 13,230,403 shares. The stock had previously closed at $34.47.

Analysts Set New Price Targets

Several research firms recently commented on HIMS. Morgan Stanley cut Hims & Hers Health from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Needham & Company LLC boosted their target price on Hims & Hers Health from $31.00 to $61.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Truist Financial boosted their target price on Hims & Hers Health from $24.00 to $39.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. TD Cowen restated a "buy" rating and set a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Piper Sandler boosted their target price on Hims & Hers Health from $24.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $37.23.

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Hims & Hers Health Stock Performance

The stock has a market cap of $7.70 billion, a P/E ratio of 78.81 and a beta of 1.37. The firm has a 50-day moving average price of $38.03 and a 200-day moving average price of $27.86.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. On average, research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In related news, CEO Andrew Dudum sold 78,127 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.62, for a total value of $2,314,121.74. Following the sale, the chief executive officer now owns 109,956 shares in the company, valued at $3,256,896.72. This represents a 41.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Chi sold 7,259 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $24.07, for a total value of $174,724.13. Following the completion of the sale, the insider now owns 193,601 shares in the company, valued at $4,659,976.07. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 969,191 shares of company stock valued at $34,005,375. Corporate insiders own 17.71% of the company's stock.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC purchased a new stake in Hims & Hers Health during the 4th quarter valued at $28,000. Raleigh Capital Management Inc. boosted its stake in Hims & Hers Health by 1,100.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,100 shares during the last quarter. Blume Capital Management Inc. boosted its stake in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 600 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock worth $36,000 after buying an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Hims & Hers Health in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 63.52% of the company's stock.

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.