Hims & Hers Health (NYSE:HIMS) Trading 5.7% Higher – Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 5.7% during trading 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

A number of research firms recently weighed in on HIMS. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Morgan Stanley initiated coverage on Hims & Hers Health in a research note on Tuesday, December 17th. They set an “overweight” rating and a $42.00 target price for the company. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price target for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Piper Sandler increased their price objective on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s 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 business has a 50-day moving average of $28.41 and a 200-day moving average of $22.26. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 71.01 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. During the same period in the previous year, the firm earned ($0.04) EPS. The business’s revenue was up 77.1% on a year-over-year basis. Equities analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Anja Manuel purchased 4,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $26.94 per share, with a total value of $107,760.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $107,760. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 188,888 shares of the 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 sale, 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. In the last quarter, insiders sold 1,256,067 shares of company stock worth $34,459,485. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank raised its position in Hims & Hers Health by 55.9% during the 2nd quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock worth $133,000 after buying an additional 2,354 shares during the last quarter. Xponance Inc. purchased a new stake in Hims & Hers Health in the 2nd quarter valued at approximately $242,000. The Manufacturers Life Insurance Company lifted its position in shares of Hims & Hers Health by 44.9% in the second quarter. The Manufacturers Life Insurance Company now owns 116,477 shares of the company’s stock valued at $2,352,000 after acquiring an additional 36,081 shares in the last quarter. Creative Planning purchased a new position in Hims & Hers Health in the 2nd quarter valued at about $443,000. Finally, Sanctuary Advisors LLC acquired a new stake in Hims & Hers Health during the second quarter worth approximately $415,000. 63.52% of the stock is owned by hedge funds and other 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.