Hims & Hers Health (NYSE:HIMS) Shares Up 4.9% – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was up 4.9% on Friday . The stock traded as high as $44.80 and last traded at $43.35. Approximately 12,513,033 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 21,905,031 shares. The stock had previously closed at $41.34.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HIMS. Piper Sandler boosted their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Truist Financial upped their target price on shares of Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday. Canaccord Genuity Group raised their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Citigroup boosted their price target on Hims & Hers Health from $25.00 to $27.00 and gave the stock a “sell” rating in a research report on Tuesday, February 25th. Finally, Bank of America raised their price objective on Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.23.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 102.72 and a beta of 1.35. The business has a fifty day simple moving average of $36.57 and a 200 day simple moving average of $26.74.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million for the quarter, compared to the consensus estimate of $494.56 million. On average, sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Hims & Hers Health

In related news, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $24.07, for a total value of $174,724.13. Following the transaction, the insider now owns 193,601 shares in the company, valued at approximately $4,659,976.07. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Dudum sold 33,513 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.38, for a total value of $1,118,663.94. Following the completion of the transaction, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at approximately $1,118,296.76. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,097,578 shares of company stock valued at $38,080,320. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. bought a new stake in Hims & Hers Health during the fourth quarter worth $4,900,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Hims & Hers Health during the 4th quarter worth $200,000. Mackenzie Financial Corp boosted its stake in Hims & Hers Health by 44.6% in the fourth quarter. Mackenzie Financial Corp now owns 29,096 shares of the company’s stock valued at $704,000 after buying an additional 8,977 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Hims & Hers Health in the fourth quarter valued at about $99,000. Finally, Neo Ivy Capital Management raised its stake in Hims & Hers Health by 145.4% during the fourth quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock worth $4,031,000 after acquiring an additional 98,798 shares in the last quarter. 63.52% of the stock is owned by 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.