Hims & Hers Health (NYSE:HIMS) Stock Price Up 4.5% - Here's What Happened

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shot up 4.5% during trading on Monday . The company traded as high as $38.63 and last traded at $38.97. 5,949,811 shares were traded during trading, a decline of 41% from the average session volume of 10,106,234 shares. The stock had previously closed at $37.28.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HIMS. Morgan Stanley began coverage on shares of Hims & Hers Health in a report on Tuesday, December 17th. They set an "overweight" rating and a $42.00 price objective for the company. BTIG Research initiated coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They issued a "buy" rating and a $35.00 price target for the company. Canaccord Genuity Group upped their price objective on Hims & Hers Health from $28.00 to $38.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Citigroup lowered Hims & Hers Health from a "neutral" rating to a "sell" rating and lifted their target price for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $25.13.

Hims & Hers Health Stock Down 4.4 %

The firm's 50 day simple moving average is $30.02 and its 200 day simple moving average is $23.12. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 91.72 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm had revenue of $401.56 million for the quarter, compared to analysts' expectations of $382.20 million. During the same period last year, the firm earned ($0.04) EPS. The firm's revenue was up 77.1% compared to the same quarter last year. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity

In related news, CFO Oluyemi Okupe sold 11,581 shares of Hims & Hers Health stock in a transaction dated 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 directly owns 112,933 shares of the company's stock, valued at $4,395,352.36. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anja Manuel purchased 4,000 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of $26.94 per share, for a total transaction of $107,760.00. Following the completion of the transaction, the director now owns 4,000 shares of the company's stock, valued at $107,760. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,167,913 shares of company stock valued at $34,303,787. Company insiders own 17.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds have recently made changes to their positions in HIMS. Main Management ETF Advisors LLC bought a new stake in Hims & Hers Health during the third quarter worth approximately $672,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Hims & Hers Health during the 3rd quarter worth $604,000. Carnegie Investment Counsel acquired a new position in shares of Hims & Hers Health in the 3rd quarter worth $5,531,000. Royce & Associates LP raised its position in shares of Hims & Hers Health by 17.0% during the third quarter. Royce & Associates LP now owns 341,000 shares of the company's stock worth $6,281,000 after purchasing an additional 49,500 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Hims & Hers Health during the third quarter valued at $634,000. Institutional investors and hedge funds 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.