Hims & Hers Health Sees Unusually Large Options Volume (NYSE:HIMS)

Hims & Hers Health, Inc. (NYSE:HIMS) was the recipient of some unusual options trading on Wednesday. Traders acquired 47,929 call options on the stock. This is an increase of 59% compared to the average volume of 30,093 call options.

Wall Street Analyst Weigh In

HIMS has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen increased their price target on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Needham & Company LLC started coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target for the company. Finally, Truist Financial increased their target price on shares of Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.71.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total value of $54,171.24. Following the transaction, the insider now owns 169,935 shares in the company, valued at approximately $3,935,694.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total value of $54,171.24. Following the completion of the sale, the insider now directly owns 169,935 shares in the company, valued at $3,935,694.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.56, for a total transaction of $2,750,209.28. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at $487,789.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 650,659 shares of company stock valued at $11,712,198. Company insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds have recently added to or reduced their stakes in HIMS. Victory Capital Management Inc. boosted its position in Hims & Hers Health by 164.9% in the third quarter. Victory Capital Management Inc. now owns 51,577 shares of the company’s stock worth $950,000 after purchasing an additional 32,108 shares during the last quarter. WealthPlan Investment Management LLC purchased a new stake in Hims & Hers Health during the 3rd quarter worth about $1,042,000. Versor Investments LP bought a new stake in Hims & Hers Health during the 3rd quarter worth approximately $634,000. Los Angeles Capital Management LLC increased its holdings in shares of Hims & Hers Health by 40.8% in the third quarter. Los Angeles Capital Management LLC now owns 40,353 shares of the company’s stock worth $743,000 after purchasing an additional 11,686 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in Hims & Hers Health by 30.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 123,587 shares of the company’s stock worth $2,276,000 after buying an additional 28,600 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

Shares of NYSE:HIMS traded up $3.30 during midday trading on Wednesday, reaching $23.94. The company’s stock had a trading volume of 15,769,240 shares, compared to its average volume of 8,489,850. The firm has a 50 day moving average price of $18.10 and a two-hundred day moving average price of $18.19. Hims & Hers Health has a fifty-two week low of $6.58 and a fifty-two week high of $25.74. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 297.04 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results 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. The firm had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The business’s revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. As a group, research analysts anticipate that Hims & Hers Health will post 0.22 earnings per share for the current year.

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.