Hims & Hers Health (NYSE:HIMS) Sees Unusually-High Trading Volume – Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS) saw unusually-strong trading volume on Friday . Approximately 5,570,696 shares changed hands during trading, a decline of 38% from the previous session’s volume of 8,949,964 shares.The stock last traded at $25.99 and had previously closed at $27.94.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HIMS shares. BTIG Research started coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective on the stock. Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and raised their target price for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Canaccord Genuity Group lifted their price target on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. TD Cowen reaffirmed 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, Morgan Stanley initiated coverage on Hims & Hers Health in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health currently has a consensus rating of “Hold” and an average target price of $25.13.

Hims & Hers Health Trading Down 2.1 %

The firm has a market capitalization of $5.97 billion, a P/E ratio of 62.09 and a beta of 1.31. The business’s fifty day moving average is $27.60 and its 200 day moving average is $21.80.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Hims & Hers Health’s revenue was up 77.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 11,581 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $24.44, for a total transaction of $283,039.64. Following the transaction, the chief financial officer now owns 118,077 shares of the company’s stock, valued at $2,885,801.88. This represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total transaction of $54,171.24. Following the sale, the insider now owns 169,935 shares of the company’s stock, valued at $3,935,694.60. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,080,208 shares of company stock worth $29,106,823 over the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Hims & Hers Health by 34.5% during the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after acquiring an additional 883,230 shares during the period. Geode Capital Management LLC raised its holdings in Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after purchasing an additional 482,177 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Hims & Hers Health by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after buying an additional 328,142 shares during the period. Carnegie Investment Counsel bought a new position in Hims & Hers Health in the third quarter worth approximately $5,531,000. Finally, Blueshift Asset Management LLC boosted its stake in Hims & Hers Health by 834.8% during the 3rd quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company’s stock valued at $4,513,000 after purchasing an additional 218,804 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.

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.