Hims & Hers Health (NYSE:HIMS) Shares Gap Up - Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $56.77, but opened at $61.60. Hims & Hers Health shares last traded at $58.64, with a volume of 42,966,214 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on HIMS. Canaccord Genuity Group increased 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 report on Wednesday, February 19th. Leerink Partners increased 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 report on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of Hims & Hers Health from $60.00 to $40.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. TD Cowen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating and lowered their price target for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Finally, UBS Group reissued a "mixed" rating on shares of Hims & Hers Health in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $38.00.

Hims & Hers Health Stock Down 1.7%

The firm has a market capitalization of $12.04 billion, a P/E ratio of 122.23 and a beta of 1.84. The firm's 50-day simple moving average is $40.77 and its 200-day simple moving average is $36.56.

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

Insider Buying and Selling at Hims & Hers Health

In other news, insider Patrick Harrison Carroll sold 23,287 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $34.31, for a total value of $798,976.97. Following the completion of the sale, the insider now directly owns 209,661 shares in the company, valued at approximately $7,193,468.91. The trade was a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $33.98, for a total transaction of $4,353,755.46. Following the completion of the sale, the chief executive officer now owns 173,655 shares of the company's stock, valued at approximately $5,900,796.90. The trade was a 42.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,367 shares of company stock worth $25,227,888 over the last three months. 13.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HIMS. Farallon Capital Management LLC increased its stake in shares of Hims & Hers Health by 64,338.5% in the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after buying an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Hims & Hers Health by 192.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock worth $152,436,000 after buying an additional 4,145,305 shares during the period. Vanguard Group Inc. increased its stake in shares of Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock worth $489,817,000 after buying an additional 2,020,722 shares during the period. Nuveen LLC purchased a new position in Hims & Hers Health during the 1st quarter valued at $58,403,000. Finally, Yong Rong HK Asset Management Ltd purchased a new position in Hims & Hers Health during the 4th quarter valued at $41,104,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.