Hims & Hers Health (NYSE:HIMS) Stock Price Up 7.5% – Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS) shot up 7.5% during mid-day trading on Friday . The company traded as high as $20.32 and last traded at $20.25. 7,338,671 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 8,257,269 shares. The stock had previously closed at $18.83.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HIMS shares. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Truist Financial increased their price target on shares of Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective on the stock. Bank of America increased their target price on shares of Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, TD Cowen increased their price objective on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.21.

Hims & Hers Health Stock Up 8.3 %

The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 249.91 and a beta of 1.06. The firm has a fifty day moving average price of $17.94 and a 200-day moving average price of $18.01.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. The firm had revenue of $315.65 million for the quarter, compared to analyst estimates of $302.43 million. During the same period last year, the company earned ($0.03) EPS. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. Equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.47, for a total transaction of $3,110,985.36. Following the completion of the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at approximately $551,777.94. 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 accessible through this hyperlink. In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.47, for a total transaction of $3,110,985.36. Following the transaction, the chief executive officer now directly owns 33,502 shares of the company’s stock, valued at $551,777.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Oluyemi Okupe sold 11,609 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.60, for a total transaction of $169,491.40. Following the completion of the sale, the chief financial officer now directly owns 181,469 shares of the company’s stock, valued at $2,649,447.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 858,665 shares of company stock valued at $15,148,890. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently modified their holdings of HIMS. Vanguard Group Inc. grew its position in Hims & Hers Health by 1.0% in the first quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock valued at $221,379,000 after acquiring an additional 136,907 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after purchasing an additional 3,205,108 shares in the last quarter. Farallon Capital Management LLC increased its stake in Hims & Hers Health by 3,890.5% during the 1st quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock worth $25,928,000 after buying an additional 1,634,000 shares during the period. Bank of New York Mellon Corp lifted its holdings in Hims & Hers Health by 67.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company’s stock worth $13,701,000 after buying an additional 273,473 shares in the last quarter. Finally, M&G Plc purchased a new position in Hims & Hers Health in the 1st quarter valued at about $8,232,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.