Hims & Hers Health (NYSE:HIMS) Stock Price Up 1.7% - Time to Buy?

Key Points

• Hims & Hers Health stock rose by 1.7% to close at $58.66, with trading volume significantly down at 7.69 million shares, compared to the average of 33.59 million shares.
• Research analysts have mostly rated the stock as a "Hold", with a consensus price target of $39.83, while Bank of America set a target of $26 and Citigroup maintained a "sell" rating.
• The company reported a 110.7% year-over-year increase in quarterly revenue, reaching $586.01 million, and beat earnings expectations with an EPS of $0.20.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) rose 1.7% during mid-day trading on Monday . The stock traded as high as $59.82 and last traded at $58.66. Approximately 7,690,000 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 33,587,559 shares. The stock had previously closed at $57.65.

Analyst Ratings Changes

HIMS has been the subject of several research analyst reports. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Bank of America increased 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. Truist Financial increased their target price on shares of Hims & Hers Health from $45.00 to $48.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Needham & Company LLC reissued a "hold" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Finally, Morgan Stanley restated an "equal weight" rating and set a $40.00 target price on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of "Hold" and an average price target of $39.83.

Hims & Hers Health Trading Up 0.7%

The company's 50-day moving average price is $53.15 and its two-hundred day moving average price is $43.00. The company has a market cap of $13.00 billion, a P/E ratio of 84.02, a P/E/G ratio of 2.13 and a beta of 2.02.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The business 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 9.24% and a return on equity of 22.75%. The company's quarterly revenue was up 110.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. As a group, analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 17,102 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total value of $1,021,844.50. Following the completion of the sale, the insider directly owned 278,654 shares of the company's stock, valued at approximately $16,649,576.50. This represents a 5.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Oluyemi Okupe sold 23,107 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the completion of the sale, the chief financial officer directly owned 63,222 shares of the company's stock, valued at approximately $2,987,239.50. This represents a 26.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 785,132 shares of company stock valued at $42,312,559 in the last ninety days. Company insiders own 17.71% of the company's stock.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMS. Webster Bank N. A. grew its position in Hims & Hers Health by 229.1% during the second quarter. Webster Bank N. A. now owns 905 shares of the company's stock valued at $45,000 after purchasing an additional 630 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Hims & Hers Health in the first quarter worth approximately $30,000. Parallel Advisors LLC grew its position in Hims & Hers Health by 175.0% in the second quarter. Parallel Advisors LLC now owns 1,155 shares of the company's stock worth $58,000 after acquiring an additional 735 shares in the last quarter. UMB Bank n.a. grew its position in Hims & Hers Health by 247.5% in 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 in the last quarter. Finally, AdvisorNet Financial Inc grew its position in Hims & Hers Health by 127.1% in the second quarter. AdvisorNet Financial Inc now owns 1,340 shares of the company's stock worth $67,000 after acquiring an additional 750 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors.

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.

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.