Hims & Hers Health (NYSE:HIMS) Shares Up 7.7% - Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares shot up 7.7% during mid-day trading on Monday . The stock traded as high as $61.67 and last traded at $59.77. 19,574,494 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 21,158,567 shares. The stock had previously closed at $55.48.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HIMS. Needham & Company LLC boosted their target price on shares of Hims & Hers Health from $61.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Piper Sandler reissued a "neutral" rating and issued a $39.00 price target (up previously from $35.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. UBS Group reissued a "mixed" rating on shares of Hims & Hers Health in a report on Tuesday, May 6th. Truist Financial cut their price target 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. Finally, Canaccord Genuity Group boosted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $38.00.

Hims & Hers Health Price Performance

The stock's fifty day moving average is $45.09 and its 200-day moving average is $38.26. The stock has a market cap of $13.15 billion, a PE ratio of 132.90 and a beta of 2.09.

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 for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $586.01 million during the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Hims & Hers Health's revenue was up 110.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. On average, sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew Dudum sold 36,460 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $28.04, for a total transaction of $1,022,338.40. Following the sale, the chief executive officer now owns 92,103 shares of the company's stock, valued at approximately $2,582,568.12. This represents a 28.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Melissa Baird sold 33,333 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $25.78, for a total transaction of $859,324.74. Following the sale, the chief operating officer now directly owns 805,083 shares in the company, valued at $20,755,039.74. This represents a 3.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 499,940 shares of company stock valued at $21,478,932 over the last 90 days. 13.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

Several hedge funds have recently made changes to their positions in HIMS. Smartleaf Asset Management LLC lifted its stake in Hims & Hers Health by 15.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,672 shares of the company's stock worth $49,000 after acquiring an additional 227 shares during the last quarter. Allworth Financial LP lifted its stake in Hims & Hers Health by 20.0% in the first quarter. Allworth Financial LP now owns 2,006 shares of the company's stock worth $56,000 after acquiring an additional 334 shares during the last quarter. Signaturefd LLC raised its holdings in Hims & Hers Health by 17.7% during the first quarter. Signaturefd LLC now owns 2,586 shares of the company's stock worth $76,000 after purchasing an additional 388 shares in the last quarter. SlateStone Wealth LLC raised its holdings in Hims & Hers Health by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock worth $257,000 after purchasing an additional 413 shares in the last quarter. Finally, Kilter Group LLC raised its holdings in Hims & Hers Health by 1.0% during the first quarter. Kilter Group LLC now owns 43,989 shares of the company's stock worth $1,300,000 after purchasing an additional 450 shares in the last quarter. 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.

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