Hims & Hers Health (NYSE:HIMS) Shares Up 11.2% After Strong Earnings

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price shot up 11.2% during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $48.52 and last traded at $46.59. 75,568,287 shares traded hands during mid-day trading, an increase of 337% from the average session volume of 17,274,388 shares. The stock had previously closed at $41.88.

The company reported $0.20 earnings per share 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 for the quarter, compared to analyst estimates of $535.21 million. During the same period in the previous year, the business earned $0.05 EPS. The firm's revenue was up 110.7% on a year-over-year basis.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BTIG Research initiated coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They issued a "buy" rating and a $35.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $61.00 price objective on shares of Hims & Hers Health in a report on Tuesday. Bank of America increased their target price on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. TD Cowen lowered Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price objective for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. Finally, Morgan Stanley dropped their target price on Hims & Hers Health from $60.00 to $40.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. 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. According to MarketBeat, Hims & Hers Health currently has an average rating of "Hold" and an average target price of $36.92.

Insider Buying and Selling

In other Hims & Hers Health news, insider Soleil Boughton sold 4,152 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares of the company's stock, valued at approximately $9,549,268.05. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Melissa Baird sold 33,333 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $25.78, for a total transaction of $859,324.74. Following the completion of the transaction, the chief operating officer now directly owns 805,083 shares of the company's stock, valued at approximately $20,755,039.74. The trade was a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,500 shares of company stock worth $25,790,311 in the last ninety days. Corporate insiders own 17.71% of the company's stock.

Institutional Trading of Hims & Hers Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Means Investment CO. Inc. raised its position in shares of Hims & Hers Health by 23.5% in the 4th quarter. Means Investment CO. Inc. now owns 50,040 shares of the company's stock worth $1,210,000 after purchasing an additional 9,508 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Hims & Hers Health in the fourth quarter worth about $18,048,000. State of Alaska Department of Revenue purchased a new stake in Hims & Hers Health during the fourth quarter valued at approximately $2,628,000. Pacer Advisors Inc. purchased a new position in Hims & Hers Health during the fourth quarter valued at $374,000. Finally, Genesee Capital Advisors LLC bought a new position in shares of Hims & Hers Health during the 4th quarter valued at approximately $889,000. Hedge funds and other institutional investors own 63.52% of the company's stock.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $10.39 billion, a P/E ratio of 106.16 and a beta of 1.84. The company's 50-day moving average price is $32.22 and its 200 day moving average price is $31.70.

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.

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