Hims & Hers Health (NYSE:HIMS) Trading 15.8% Higher – Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS) rose 15.8% during trading on Monday . The stock traded as high as $29.33 and last traded at $29.32. Approximately 2,155,659 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 9,491,215 shares. The stock had previously closed at $25.33.

Analyst Ratings Changes

A number of brokerages recently weighed in on HIMS. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Needham & Company LLC initiated coverage on Hims & Hers Health in a report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target for the company. Imperial Capital lowered Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Finally, TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Stock Up 23.8 %

The firm has a market capitalization of $6.85 billion, a P/E ratio of 66.64 and a beta of 1.06. The firm has a 50 day moving average of $20.55 and a 200-day moving average of $19.31.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter last year, the business earned ($0.04) earnings per share. Hims & Hers Health’s revenue was up 77.1% on a year-over-year basis. As a group, research analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the sale, the chief executive officer now owns 33,502 shares in the company, valued at $487,789.12. This trade represents a 84.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the transaction, the chief financial officer now owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This trade represents a 64.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,056,183 shares of company stock valued at $21,501,682. Company 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 HIMS. Nisa Investment Advisors LLC grew its holdings in Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after acquiring an additional 1,603 shares during the last quarter. Quest Partners LLC grew its stake in shares of Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Hims & Hers Health in the second quarter valued at $111,000. CWM LLC raised its position in Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Quarry LP lifted its holdings in Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after buying an additional 2,913 shares during the period. 63.52% of the stock is currently owned by institutional investors.

About Hims & Hers Health

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.