Hims & Hers Health (NYSE:HIMS) Stock Price Up 2.9% – Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS) was up 2.9% during mid-day trading on Monday . The stock traded as high as $34.70 and last traded at $34.10. Approximately 5,594,673 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 13,489,024 shares. The stock had previously closed at $33.14.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HIMS shares. Bank of America increased their price objective on shares of Hims & Hers Health from $21.00 to $22.00 and gave the stock an “underperform” rating in a research report on Tuesday. Needham & Company LLC increased their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. TD Cowen reissued a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Piper Sandler raised their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.31.

Hims & Hers Health Price Performance

The stock has a market cap of $6.99 billion, a PE ratio of 71.49 and a beta of 1.37. The firm’s 50 day moving average price is $38.72 and its two-hundred day moving average price is $28.49.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $481.14 million during the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 18,959 shares of Hims & Hers Health stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $25.77, for a total transaction of $488,573.43. Following the completion of the sale, the chief financial officer now directly owns 132,578 shares in the company, valued at $3,416,535.06. The trade was a 12.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Chi sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $26.00, for a total transaction of $195,000.00. Following the completion of the sale, the insider now owns 193,601 shares of the company’s stock, valued at approximately $5,033,626. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,042,006 shares of company stock worth $36,830,024 over the last three months. 17.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after acquiring an additional 2,020,722 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after acquiring an additional 8,364,000 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Hims & Hers Health by 29.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after acquiring an additional 1,562,302 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after acquiring an additional 4,145,305 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Hims & Hers Health by 4.7% in the third quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after buying an additional 206,078 shares during the period. 63.52% of the stock is currently 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.