Hims & Hers Health (NYSE:HIMS) Stock Price Up 3.8% - Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares shot up 3.8% during mid-day trading on Friday . The stock traded as high as $63.45 and last traded at $60.82. 21,907,163 shares traded hands during trading, a decline of 27% from the average session volume of 29,811,842 shares. The stock had previously closed at $58.58.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HIMS. TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. UBS Group reiterated a "mixed" rating on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Citigroup reaffirmed a "sell" rating and set a $30.00 price target (up from $25.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Finally, Truist Financial cut their price objective on Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $37.67.

Hims & Hers Health Stock Up 7.3%

The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 141.51 and a beta of 1.84. The company's fifty day simple moving average is $34.85 and its 200 day simple moving average is $33.40.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The business had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Hims & Hers Health's quarterly revenue was up 110.7% compared to the same quarter last year. During the same quarter in the previous year, the company 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

In related news, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the completion of the sale, the chief executive officer now directly owns 97,687 shares of the company's stock, valued at approximately $5,692,221.49. This represents a 56.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 4,152 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the sale, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 563,973 shares of company stock valued at $21,951,757 over the last quarter. 13.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently bought and sold shares of HIMS. Crewe Advisors LLC acquired a new position in shares of Hims & Hers Health in the fourth quarter worth about $28,000. Raleigh Capital Management Inc. increased its position in Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,100 shares during the last quarter. Blume Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 600 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock worth $36,000 after purchasing an additional 1,413 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Hims & Hers Health in the fourth quarter valued at $38,000. 63.52% of the stock is 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.

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