Hims & Hers Health (NYSE:HIMS) Stock Price Up 8.9% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS) shares were up 8.9% during trading on Tuesday . The company traded as high as $33.70 and last traded at $32.19. Approximately 18,141,457 shares traded hands during trading, a decline of 18% from the average daily volume of 22,197,922 shares. The stock had previously closed at $29.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Leerink Partners upped their target price on Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, February 25th. Citigroup reaffirmed a “sell” rating and set a $27.00 target price on shares of Hims & Hers Health in a report on Thursday, March 6th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Truist Financial raised their price target on shares of Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Two 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’s stock. According to MarketBeat, Hims & Hers Health presently has an average rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Stock Performance

The business has a 50 day simple moving average of $39.92 and a 200-day simple moving average of $29.67. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 70.67 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm 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%. Equities analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Oluyemi Okupe sold 11,581 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $24.44, for a total transaction of $283,039.64. Following the completion of the sale, the chief financial officer now directly owns 118,077 shares of the company’s stock, valued at approximately $2,885,801.88. This trade represents a 8.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the sale, the insider now owns 169,803 shares in the company, valued at approximately $4,712,033.25. This trade represents a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,061,718 shares of company stock valued at $37,894,395. 17.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the stock. Main Management ETF Advisors LLC purchased a new position in shares of Hims & Hers Health during the 3rd quarter worth approximately $672,000. Means Investment CO. Inc. lifted its stake in Hims & Hers Health by 23.5% during the fourth quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock worth $1,210,000 after purchasing an additional 9,508 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Hims & Hers Health by 102.0% during the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after buying an additional 146,621 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Hims & Hers Health in the fourth quarter valued at $2,628,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of Hims & Hers Health in the 4th quarter valued at $374,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.