Hims & Hers Health (NYSE:HIMS) Trading Up 7% - Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shot up 7% during mid-day trading on Friday . The company traded as high as $56.87 and last traded at $56.45. 15,269,254 shares were traded during mid-day trading, a decline of 26% from the average session volume of 20,533,005 shares. The stock had previously closed at $52.77.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HIMS. Morgan Stanley decreased their target price on Hims & Hers Health from $60.00 to $40.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. Bank of America upped their target price on Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a research report on Tuesday, April 29th. Canaccord Genuity Group upped their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. 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 report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $38.00.

Hims & Hers Health Trading Up 7.0%

The stock has a market capitalization of $12.63 billion, a PE ratio of 128.28 and a beta of 2.09. The company has a 50 day simple moving average of $42.23 and a 200 day simple moving average of $37.13.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The business had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company's revenue for the quarter was up 110.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. On average, equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Hims & Hers Health

In related news, insider Soleil Boughton sold 3,236 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $27.77, for a total value of $89,863.72. Following the completion of the transaction, the insider now directly owns 170,285 shares of the company's stock, valued at $4,728,814.45. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Melissa Baird sold 33,333 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $25.78, for a total value of $859,324.74. Following the completion of the transaction, the chief operating officer now directly owns 805,083 shares of the company's stock, valued at $20,755,039.74. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 617,367 shares of company stock valued at $25,227,888. Corporate insiders own 13.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds have recently bought and sold shares of HIMS. Barclays PLC increased its stake in Hims & Hers Health by 9.7% in the 3rd quarter. Barclays PLC now owns 308,363 shares of the company's stock valued at $5,680,000 after purchasing an additional 27,231 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Hims & Hers Health in the 4th quarter valued at approximately $1,788,000. Crewe Advisors LLC purchased a new position in Hims & Hers Health in the 4th quarter valued at approximately $28,000. Kercheville Advisors LLC purchased a new position in Hims & Hers Health in the 4th quarter valued at approximately $470,000. Finally, State of Alaska Department of Revenue purchased a new position in Hims & Hers Health in the 4th quarter valued at approximately $2,628,000. 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.