Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase After Insider Buying Activity

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw unusually-strong trading volume on Thursday following insider buying activity. Approximately 12,205,356 shares were traded during mid-day trading, an increase of 37% from the previous session’s volume of 8,904,333 shares.The stock last traded at $23.51 and had previously closed at $27.60.

Specifically, Director Anja Manuel bought 4,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average price of $26.94 per share, for a total transaction of $107,760.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at approximately $107,760. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

HIMS has been the subject of several analyst reports. TD Cowen upped their price target on Hims & Hers Health from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price for the company. Piper Sandler reiterated a “neutral” rating and set a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Finally, Bank of America downgraded Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their target price for the stock from $32.00 to $18.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.71.

Hims & Hers Health Trading Down 7.1 %

The business’s 50-day moving average is $19.76 and its two-hundred day moving average is $18.83. The firm has a market cap of $4.16 billion, a P/E ratio of 44.00 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last issued 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 net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. During the same period last year, the firm posted ($0.04) EPS. Hims & Hers Health’s quarterly revenue was up 77.1% compared to the same quarter last year. On average, analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HIMS. Robeco Institutional Asset Management B.V. acquired a new position in Hims & Hers Health during the third quarter worth about $604,000. Carnegie Investment Counsel bought a new stake in Hims & Hers Health during the third quarter worth approximately $5,531,000. Versor Investments LP acquired a new position in Hims & Hers Health in the third quarter worth approximately $634,000. International Assets Investment Management LLC bought a new position in shares of Hims & Hers Health in the third quarter valued at $6,790,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Hims & Hers Health by 30.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 123,587 shares of the company’s stock worth $2,276,000 after acquiring an additional 28,600 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.

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.