Hims & Hers Health (NYSE:HIMS) Trading 5% Higher - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shot up 5% during mid-day trading on Friday . The company traded as high as $32.88 and last traded at $33.11. 5,004,517 shares traded hands during trading, a decline of 63% from the average session volume of 13,412,456 shares. The stock had previously closed at $31.54.

Wall Street Analysts Forecast Growth

HIMS has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of Hims & Hers Health from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Bank of America reiterated an "underperform" rating and set a $21.00 target price on shares of Hims & Hers Health in a research note on Thursday, March 6th. Piper Sandler increased their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. TD Cowen reissued a "buy" rating and issued a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Canaccord Genuity Group increased their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $37.23.

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Hims & Hers Health Price Performance

The firm has a market cap of $7.23 billion, a PE ratio of 73.99 and a beta of 1.37. The company has a 50-day simple moving average of $38.36 and a 200-day simple moving average of $27.92.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating 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 company had revenue of $481.14 million for the quarter, compared to the consensus estimate of $494.56 million. As a group, equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael Chi sold 17,303 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $48.14, for a total transaction of $832,966.42. Following the transaction, the insider now owns 193,601 shares of the company's stock, valued at approximately $9,319,952.14. This represents a 8.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 11,581 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $24.44, for a total value of $283,039.64. Following the transaction, the chief financial officer now owns 118,077 shares in the company, valued at approximately $2,885,801.88. This represents a 8.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 969,191 shares of company stock valued at $34,005,375 in the last 90 days. Company insiders own 17.71% of the company's stock.

Institutional Inflows and Outflows

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

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.

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