Hims & Hers Health (NYSE:HIMS) Shares Up 7.5% - Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares traded up 7.5% during trading on Monday . The company traded as high as $30.00 and last traded at $27.95. 11,997,698 shares changed hands during trading, a decline of 19% from the average session volume of 14,725,593 shares. The stock had previously closed at $25.99.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley cut Hims & Hers Health from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $42.00 to $60.00 in a research report on Tuesday, February 18th. Canaccord Genuity Group lifted their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Bank of America upped their price target on shares of Hims & Hers Health from $21.00 to $22.00 and gave the company an "underperform" rating in a report on Tuesday, March 18th. Needham & Company LLC raised their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Leerink Partners lifted their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Hims & Hers Health presently has an average rating of "Hold" and an average price target of $38.25.

Remove Ads

Hims & Hers Health Stock Up 1.2 %

The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 61.66 and a beta of 1.65. The company has a 50 day moving average of $38.75 and a 200 day moving average of $30.37.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released 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 net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million for the quarter, compared to analysts' expectations of $494.56 million. On average, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Hims & Hers Health news, insider Irene Becklund sold 2,203 shares of Hims & Hers Health stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $28.78, for a total transaction of $63,402.34. Following the transaction, the insider now directly owns 8,007 shares of the company's stock, valued at $230,441.46. The trade was a 21.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 36,460 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $27.09, for a total transaction of $987,701.40. Following the sale, the chief executive officer now owns 27,918 shares of the company's stock, valued at approximately $756,298.62. This represents a 56.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,884 shares of company stock valued at $31,659,701 in the last ninety days. Company insiders own 17.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

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