Hims & Hers Health (NYSE:HIMS) Shares Gap Up – Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $31.25, but opened at $32.20. Hims & Hers Health shares last traded at $32.14, with a volume of 3,528,936 shares traded.

Wall Street Analysts Forecast Growth

HIMS has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Morgan Stanley started coverage on Hims & Hers Health in a report on Tuesday. They set an “overweight” rating and a $42.00 price objective for the company. 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 upped their price target on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Stock Performance

The company has a market capitalization of $6.87 billion, a P/E ratio of 70.09 and a beta of 1.25. The stock’s fifty day moving average price is $25.02 and its 200-day moving average price is $21.06.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $382.20 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.41, for a total transaction of $47,738.99. Following the completion of the sale, the insider now directly owns 172,274 shares in the company, valued at $3,516,112.34. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total value of $68,932.24. Following the sale, the insider now owns 184,947 shares of the company’s stock, valued at approximately $6,206,821.32. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,064,976 shares of company stock valued at $25,396,895 over the last ninety days. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC grew its stake in shares of Hims & Hers Health by 22.6% in the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after acquiring an additional 807 shares in the last quarter. CWM LLC boosted its holdings in Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the period. Arizona State Retirement System grew its position in shares of Hims & Hers Health by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock worth $815,000 after purchasing an additional 1,173 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Hims & Hers Health by 6.6% during the second quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after purchasing an additional 1,212 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after buying an additional 1,603 shares in the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

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.