Hims & Hers Health (NYSE:HIMS) Trading 8.3% Higher – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) shares traded up 8.3% during trading on Tuesday . The company traded as high as $37.69 and last traded at $37.33. 8,905,548 shares were traded during trading, a decline of 33% from the average session volume of 13,230,403 shares. The stock had previously closed at $34.47.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HIMS. Truist Financial raised their price target on Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Citigroup reiterated a “sell” rating and set a $27.00 target price on shares of Hims & Hers Health in a research report on Thursday, March 6th. Leerink Partners raised their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 25th. BTIG Research began coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Canaccord Genuity Group upped their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Hims & Hers Health presently has an average rating of “Hold” and an average target price of $37.23.

Hims & Hers Health Stock Performance

The company has a 50 day moving average of $37.83 and a 200 day moving average of $27.73. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 81.37 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. On average, equities analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Michael Chi sold 17,303 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $48.14, for a total transaction of $832,966.42. Following the transaction, the insider now owns 193,601 shares of the company’s stock, valued at approximately $9,319,952.14. This trade represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Dudum sold 78,127 shares of Hims & Hers Health stock in a transaction on Monday, December 16th. The shares were sold at an average price of $29.62, for a total transaction of $2,314,121.74. Following the completion of the transaction, the chief executive officer now owns 109,956 shares in the company, valued at approximately $3,256,896.72. This represents a 41.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 969,191 shares of company stock valued at $34,005,375 over the last quarter. 17.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HIMS. Robeco Institutional Asset Management B.V. purchased a new position in shares of Hims & Hers Health in the 3rd quarter valued at about $604,000. Principal Financial Group Inc. grew its position in 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 New Jersey Common Pension Fund D increased its holdings in Hims & Hers Health by 30.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 123,587 shares of the company’s stock valued at $2,276,000 after buying an additional 28,600 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Hims & Hers Health by 40.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 40,353 shares of the company’s stock valued at $743,000 after acquiring an additional 11,686 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Hims & Hers Health during the 3rd quarter worth approximately $634,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.