Hims & Hers Health (NYSE:HIMS) Shares Up 2.2% - Here's What Happened

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares rose 2.2% during trading on Wednesday . The stock traded as high as $52.07 and last traded at $50.54. Approximately 36,432,860 shares changed hands during mid-day trading, an increase of 106% from the average daily volume of 17,674,260 shares. The stock had previously closed at $49.47.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BTIG Research initiated coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They set a "buy" rating and a $35.00 target price on the stock. Citigroup restated a "sell" rating and set a $30.00 price objective (up from $25.00) on shares of Hims & Hers Health in a research note on Tuesday. Canaccord Genuity Group increased their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Leerink Partners boosted their price target 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. Finally, Truist Financial decreased their price objective on shares of Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $37.67.

Hims & Hers Health Stock Up 4.7 %

The company has a market cap of $11.51 billion, a price-to-earnings ratio of 117.81 and a beta of 1.84. The business has a 50-day simple moving average of $32.39 and a two-hundred day simple moving average of $31.82.

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, topping analysts' consensus estimates of $0.12 by $0.08. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm had revenue of $586.01 million during the quarter, compared to analysts' expectations of $535.21 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The company's revenue was up 110.7% on a year-over-year basis. As a group, equities analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael Chi sold 7,259 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.28, for a total transaction of $314,169.52. Following the completion of the transaction, the insider now directly owns 193,601 shares in the company, valued at $8,379,051.28. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 4,152 shares of the firm's 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 sale, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,500 shares of company stock valued at $25,790,311 in the last quarter. Insiders own 17.71% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. LPL Financial LLC increased its stake in Hims & Hers Health by 0.8% during the first quarter. LPL Financial LLC now owns 98,701 shares of the company's stock valued at $2,917,000 after acquiring an additional 743 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Hims & Hers Health during the first quarter valued at approximately $20,580,000. Navellier & Associates Inc. acquired a new position in shares of Hims & Hers Health in the first quarter valued at $219,000. Nicholas Wealth LLC. bought a new position in Hims & Hers Health in the first quarter worth $820,000. Finally, Cetera Investment Advisers boosted its stake in Hims & Hers Health by 106.6% during the first quarter. Cetera Investment Advisers now owns 30,216 shares of the company's stock worth $893,000 after buying an additional 15,588 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

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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