Hims & Hers Health (NYSE:HIMS) Stock Price Up 1.5% - Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares shot up 1.5% on Tuesday . The stock traded as high as $48.92 and last traded at $48.33. 8,011,125 shares were traded during trading, a decline of 67% from the average session volume of 24,152,626 shares. The stock had previously closed at $47.60.

Wall Street Analyst Weigh In

Several research firms recently commented on HIMS. UBS Group set a $30.00 price objective on Hims & Hers Health in a report on Monday, June 23rd. Bank of America boosted their price objective 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. Morgan Stanley reissued an "equal weight" rating and issued a $40.00 target price on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Citigroup reissued a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, Truist Financial boosted their price objective on Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Three equities research 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. Based on data from MarketBeat.com, Hims & Hers Health presently has an average rating of "Hold" and an average price target of $39.83.

Hims & Hers Health Trading Down 3.9%

The stock has a market capitalization of $12.49 billion, a PE ratio of 80.84, a price-to-earnings-growth ratio of 1.84 and a beta of 2.02. The company's 50-day moving average is $53.31 and its 200 day moving average is $42.35.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The company had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. During the same quarter last year, the firm posted $0.05 EPS. The firm's revenue for the quarter was up 110.7% on a year-over-year basis. Sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Transactions at Hims & Hers Health

In related news, insider Soleil Boughton sold 2,572 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $47.82, for a total transaction of $122,993.04. Following the transaction, the insider directly owned 158,165 shares in the company, valued at approximately $7,563,450.30. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Dudum sold 125,335 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $49.54, for a total value of $6,209,095.90. Following the completion of the transaction, the chief executive officer owned 92,313 shares in the company, valued at approximately $4,573,186.02. This trade represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 772,518 shares of company stock worth $41,519,462 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farallon Capital Management LLC grew its stake in shares of Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after purchasing an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Hims & Hers Health by 192.0% during 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 last quarter. Vanguard Group Inc. boosted 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 valued at $489,817,000 after buying an additional 2,020,722 shares during the period. Nuveen LLC bought a new stake in Hims & Hers Health during the first quarter worth $58,403,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Hims & Hers Health by 29.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock valued at $168,079,000 after acquiring an additional 1,562,302 shares during the last quarter. 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.