Hims & Hers Health (NYSE:HIMS) Stock Price Up 1.8% - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price was up 1.8% on Wednesday . The stock traded as high as $62.54 and last traded at $60.33. Approximately 20,972,374 shares changed hands during trading, a decline of 34% from the average daily volume of 31,594,465 shares. The stock had previously closed at $59.24.

Analyst Upgrades and Downgrades

HIMS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Bank of America raised their price objective 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. Piper Sandler reaffirmed a "neutral" rating and issued a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Needham & Company LLC increased their target price on Hims & Hers Health from $61.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, TD Cowen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their price target for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $38.00.

Hims & Hers Health Price Performance

The firm has a market capitalization of $13.69 billion, a P/E ratio of 89.07, a PEG ratio of 2.25 and a beta of 2.09. The firm's 50 day moving average is $46.36 and its two-hundred day moving average is $38.60.

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. The company had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. During the same quarter last year, the firm posted $0.05 EPS. The company's quarterly revenue was up 110.7% on a year-over-year basis. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity

In related news, insider Irene Becklund sold 2,203 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $28.78, for a total value of $63,402.34. Following the transaction, the insider now directly owns 8,007 shares in the company, valued at approximately $230,441.46. This represents a 21.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Dudum sold 36,460 shares of Hims & Hers Health stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $28.04, for a total transaction of $1,022,338.40. Following the completion of the sale, the chief executive officer now owns 92,103 shares of the company's stock, valued at $2,582,568.12. This trade represents a 28.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 751,034 shares of company stock valued at $36,486,522 over the last ninety days. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HIMS. Blume Capital Management Inc. increased its stake in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 600 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Hims & Hers Health in the first quarter worth $30,000. Smartleaf Asset Management LLC raised its stake in Hims & Hers Health by 4,415.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock valued at $36,000 after purchasing an additional 1,413 shares in the last quarter. Summit Securities Group LLC acquired a new position in Hims & Hers Health in the fourth quarter valued at about $38,000. Finally, UMB Bank n.a. lifted its position 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 purchasing an additional 933 shares during the period. 63.52% of the stock is 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.

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