Hims & Hers Health (NYSE:HIMS) Sees Unusually-High Trading Volume - Here's What Happened

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares saw an uptick in trading volume on Thursday . 27,757,718 shares changed hands during mid-day trading, an increase of 55% from the previous session's volume of 17,875,610 shares.The stock last traded at $51.54 and had previously closed at $52.35.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HIMS shares. Needham & Company LLC restated a "buy" rating and issued a $61.00 target price on shares of Hims & Hers Health in a research note on Tuesday. Leerink Partners boosted their target price 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. UBS Group reiterated a "mixed" rating on shares of Hims & Hers Health in a research report on Tuesday. Canaccord Genuity Group boosted 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. Finally, Citigroup reiterated a "sell" rating and issued a $30.00 price objective (up from $25.00) on shares of Hims & Hers Health in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Hims & Hers Health has a consensus rating of "Hold" and a consensus target price of $37.67.

Hims & Hers Health Stock Performance

The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 118.28 and a beta of 1.84. The company has a 50-day moving average price of $32.97 and a 200-day moving average price of $32.43.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business's quarterly revenue was up 110.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the transaction, the insider now owns 157,345 shares of the company's stock, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the sale, the chief executive officer now directly owns 97,687 shares of the company's stock, valued at $5,692,221.49. This represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 650,500 shares of company stock worth $25,790,311. Corporate insiders own 13.71% of the company's stock.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently modified their holdings of HIMS. Allworth Financial LP grew its holdings in shares of Hims & Hers Health by 20.0% during the first quarter. Allworth Financial LP now owns 2,006 shares of the company's stock worth $56,000 after buying an additional 334 shares in the last quarter. Signaturefd LLC grew its stake in shares of Hims & Hers Health by 17.7% during the 1st quarter. Signaturefd LLC now owns 2,586 shares of the company's stock worth $76,000 after acquiring an additional 388 shares in the last quarter. SlateStone Wealth LLC raised its holdings in shares of Hims & Hers Health by 4.0% in the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock valued at $257,000 after purchasing an additional 413 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Hims & Hers Health by 47.7% in the first quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock worth $42,000 after purchasing an additional 458 shares in the last quarter. Finally, Blume Capital Management Inc. boosted its holdings in Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds 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.