Hims & Hers Health (NYSE:HIMS) Sees Strong Trading Volume Following Insider Buying Activity

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Thursday following insider buying activity. 12,205,356 shares traded hands 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 Hims & Hers Health stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $26.94 per share, with a total value of $107,760.00. Following the completion of the acquisition, the director now owns 4,000 shares of the company’s stock, valued at $107,760. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HIMS shares. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. 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 price objective for the company. Canaccord Genuity Group boosted their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. 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’s stock. According to MarketBeat, Hims & Hers Health has a consensus rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $4.16 billion, a PE ratio of 44.00 and a beta of 1.06. The company has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $18.83.

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

Institutional Trading of Hims & Hers Health

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in shares of Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after buying an additional 1,603 shares during the period. Quest Partners LLC lifted its holdings in shares of Hims & Hers Health by 5,944.1% during 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 period. Van ECK Associates Corp purchased a new stake in Hims & Hers Health in the second quarter valued at approximately $111,000. CWM LLC increased 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 worth $110,000 after buying an additional 1,054 shares during the period. Finally, Quarry LP raised its position 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 last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.