Hims & Hers Health (NYSE:HIMS) Stock Price Up 3.2% - Here's What Happened

Key Points

• Hims & Hers Health shares rose by 3.2% on Friday, reaching a high of $58.78 before closing at $59.15, with a total of approximately 9.68 million shares traded, a significant decline from its average volume.
• Analyst ratings on Hims & Hers show a consensus of "Hold", with varying price targets ranging from $30.00 to $48.00 based on recent reports.
• The company reported a 110.7% increase in year-over-year revenue, totaling $586.01 million for the last quarter, and has a P/E ratio of 84.05.
• Insiders have sold 772,518 shares worth approximately $41.5 million over the past 90 days, indicating changes in institutional ownership among hedge funds and investors.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares rose 3.2% during mid-day trading on Friday . The stock traded as high as $58.78 and last traded at $59.15. Approximately 9,680,755 shares were traded during trading, a decline of 71% from the average daily volume of 33,507,645 shares. The stock had previously closed at $57.32.

Analyst Upgrades and Downgrades

HIMS has been the subject of several analyst reports. UBS Group set a $30.00 price target on shares of Hims & Hers Health in a report on Monday, June 23rd. Needham & Company LLC reissued a "hold" rating on shares of Hims & Hers Health in a report on Monday, June 23rd. Truist Financial upped their price objective on shares of Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Piper Sandler reaffirmed a "neutral" rating and issued a $39.00 price objective (up previously from $35.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Finally, TD Cowen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Hims & Hers Health has a consensus rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Trading Up 1.0%

The company's 50-day moving average price is $53.29 and its two-hundred day moving average price is $42.56. The company has a market cap of $12.95 billion, a P/E ratio of 84.05, a price-to-earnings-growth ratio of 2.14 and a beta of 2.02.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.20 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $535.21 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The firm's revenue was up 110.7% on a year-over-year basis. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael Chi sold 17,102 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 2,572 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $47.82, for a total value of $122,993.04. Following the completion of the sale, the insider directly owned 158,165 shares of the company's stock, valued at $7,563,450.30. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 772,518 shares of company stock worth $41,519,462 over the last ninety days. Company insiders own 13.71% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HIMS. Farallon Capital Management LLC raised its stake in Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after acquiring an additional 8,364,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Hims & Hers Health by 192.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock worth $152,436,000 after acquiring an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. raised its stake in Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock worth $489,817,000 after acquiring an additional 2,020,722 shares in the last quarter. Nuveen LLC acquired a new position in Hims & Hers Health during the first quarter worth $58,403,000. Finally, Renaissance Technologies LLC raised its stake in Hims & Hers Health by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock worth $168,079,000 after acquiring an additional 1,562,302 shares in the last quarter. 63.52% of the stock is owned by 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.

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