Hims & Hers Health (NYSE:HIMS) Shares Up 7% - Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shot up 7% on Friday . The company traded as high as $51.99 and last traded at $49.54. 40,835,254 shares traded hands during trading, an increase of 78% from the average session volume of 22,956,470 shares. The stock had previously closed at $46.28.

Wall Street Analysts Forecast Growth

HIMS has been the topic of several recent research reports. Citigroup reissued a "sell" rating on shares of Hims & Hers Health in a report on Monday. Morgan Stanley restated an "equal weight" rating and set a $40.00 price target on shares of Hims & Hers Health in a report on Wednesday, June 11th. UBS Group set a $30.00 price objective on Hims & Hers Health in a research note on Monday. Bank of America lifted their price target on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. Finally, TD Cowen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating and decreased their price objective for the company from $44.00 to $30.00 in a report on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $38.31.

Hims & Hers Health Trading Up 7.6%

The company has a market cap of $11.14 billion, a P/E ratio of 72.16, a PEG ratio of 1.56 and a beta of 2.09. The stock's 50-day moving average price is $49.65 and its 200-day moving average price is $39.46.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.20 EPS 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 firm had revenue of $586.01 million during the quarter, compared to analysts' expectations of $535.21 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up 110.7% compared to the same quarter last year. On average, research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Irene Becklund sold 2,203 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $28.78, for a total value of $63,402.34. Following the completion of the sale, the insider now directly owns 8,007 shares of the company's stock, valued at $230,441.46. This represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $58.40, for a total value of $7,482,616.80. Following the transaction, the chief executive officer now directly owns 89,311 shares in the company, valued at approximately $5,215,762.40. The trade was a 58.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 706,454 shares of company stock valued at $35,220,112. Corporate insiders own 13.71% of the company's stock.

Institutional Trading of Hims & Hers Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blume Capital Management Inc. increased its stake in Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 600 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Hims & Hers Health in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC increased its position in shares of Hims & Hers Health by 4,415.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock valued at $36,000 after acquiring an additional 1,413 shares during the last quarter. Summit Securities Group LLC bought a new stake in Hims & Hers Health during the fourth quarter worth $38,000. Finally, UMB Bank n.a. lifted its holdings in Hims & Hers Health by 247.5% during the first quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock worth $39,000 after acquiring an additional 933 shares during the period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.