Hims & Hers Health (NYSE:HIMS) Trading Up 2.3% - Here's Why

Shares of Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) traded up 2.3% on Monday . The company traded as high as $58.77 and last traded at $57.88. 15,371,740 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 19,740,390 shares. The stock had previously closed at $56.56.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HIMS shares. Wall Street Zen raised shares of Hims & Hers Health from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. UBS Group reaffirmed a "mixed" rating on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Citigroup reissued a "sell" rating and issued a $30.00 target price (up from $25.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and lowered their target price for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Finally, Truist Financial cut their price target on Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Hims & Hers Health currently has an average rating of "Hold" and a consensus target price of $37.67.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 124.51 and a beta of 1.84. The business has a 50-day moving average of $40.77 and a 200-day moving average of $36.56.

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. Equities analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 11,581 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.98, for a total transaction of $613,561.38. Following the completion of the transaction, the chief financial officer now directly owns 39,153 shares in the company, valued at $2,074,325.94. This trade represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $33.98, for a total value of $4,353,755.46. Following the completion of the sale, the chief executive officer now owns 173,655 shares in the company, valued at $5,900,796.90. This represents a 42.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 617,367 shares of company stock worth $25,227,888. Insiders own 13.71% of the company's stock.

Institutional Trading of Hims & Hers Health

A number of institutional investors and hedge funds have recently bought and sold shares of HIMS. Geneos Wealth Management Inc. acquired a new position in shares of Hims & Hers Health in the first quarter valued at approximately $30,000. Crewe Advisors LLC acquired a new stake in Hims & Hers Health during the 4th quarter worth approximately $28,000. Blume Capital Management Inc. boosted its position 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 period. UMB Bank n.a. grew its stake in shares of 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, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Hims & Hers Health in the first quarter worth $41,000. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

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.