Hims & Hers Health (NYSE:HIMS) Shares Gap Up - Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $40.82, but opened at $42.28. Hims & Hers Health shares last traded at $40.36, with a volume of 12,948,222 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group upped their price target 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. Bank of America increased their price target on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. Piper Sandler boosted their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Needham & Company LLC lifted their price objective on Hims & Hers Health from $31.00 to $61.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, BTIG Research started coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They issued a "buy" rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.92.

Hims & Hers Health Stock Performance

The company has a 50 day simple moving average of $32.21 and a two-hundred day simple moving average of $31.56. The firm has a market cap of $9.25 billion, a PE ratio of 94.53 and a beta of 1.84.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. As a group, research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Oluyemi Okupe sold 11,581 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $38.92, for a total transaction of $450,732.52. Following the transaction, the chief financial officer now owns 112,933 shares in the company, valued at approximately $4,395,352.36. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Dudum sold 128,127 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the completion of the sale, the chief executive officer now directly owns 97,687 shares of the company's stock, valued at $5,692,221.49. This trade represents a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 662,081 shares of company stock worth $26,241,044. Insiders own 17.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently bought and sold shares of HIMS. Allworth Financial LP increased its holdings in shares of Hims & Hers Health by 20.0% during the 1st quarter. Allworth Financial LP now owns 2,006 shares of the company's stock worth $56,000 after buying an additional 334 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Hims & Hers Health by 17.7% in the 1st quarter. Signaturefd LLC now owns 2,586 shares of the company's stock valued at $76,000 after purchasing an additional 388 shares during the last quarter. SlateStone Wealth LLC increased its position in shares of Hims & Hers Health by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock worth $257,000 after purchasing an additional 413 shares during the last quarter. Larson Financial Group LLC raised its holdings in Hims & Hers Health by 47.7% in the 1st quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock valued at $42,000 after buying an additional 458 shares during the period. Finally, Blume Capital Management Inc. boosted its stake 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 buying an additional 600 shares during the period. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Company Profile

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.

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