Hims & Hers Health (NYSE:HIMS) Trading Up 5.7% - Here's Why

Shares of Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) traded up 5.7% on Tuesday . The company traded as high as $31.39 and last traded at $32.25. 977,399 shares were traded during trading, a decline of 90% from the average session volume of 9,715,154 shares. The stock had previously closed at $30.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HIMS shares. Canaccord Genuity Group increased their target price on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. Piper Sandler upped their target price on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Needham & Company LLC raised their price target on Hims & Hers Health from $28.00 to $31.00 and gave the company a "buy" rating in a report on Monday, January 6th. Bank of America downgraded Hims & Hers Health from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. Finally, BTIG Research began coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They set a "buy" rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $25.13.

Hims & Hers Health Stock Performance

The firm has a fifty day simple moving average of $28.57 and a 200 day simple moving average of $22.33. The company has a market capitalization of $6.87 billion, a PE ratio of 71.49 and a beta of 1.31.

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

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 268,932 shares of Hims & Hers Health stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the transaction, the insider now owns 169,803 shares in the company, valued at approximately $4,712,033.25. This trade represents a 61.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Dudum sold 188,888 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total value of $3,943,981.44. Following the completion of the transaction, the chief executive officer now directly owns 67,015 shares of the company's stock, valued at $1,399,273.20. The trade was a 73.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,256,067 shares of company stock worth $34,459,485. Insiders own 17.71% of the company's stock.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its stake in shares of Hims & Hers Health by 105.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,106 shares of the company's stock worth $704,000 after acquiring an additional 14,912 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Hims & Hers Health in the 4th quarter valued at about $2,628,000. Kercheville Advisors LLC acquired a new position in Hims & Hers Health in the 4th quarter worth about $470,000. Crewe Advisors LLC purchased a new position in Hims & Hers Health during the fourth quarter worth approximately $28,000. Finally, Yousif Capital Management LLC acquired a new stake in Hims & Hers Health in the fourth quarter valued at approximately $1,788,000. Institutional investors and hedge funds 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.