Hims & Hers Health (NYSE:HIMS) Stock Price Up 1.6% - Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price shot up 1.6% during mid-day trading on Wednesday . The stock traded as high as $52.33 and last traded at $49.74. 18,218,759 shares were traded during mid-day trading, a decline of 23% from the average session volume of 23,569,072 shares. The stock had previously closed at $48.96.

Analyst Ratings Changes

HIMS has been the topic of a number of research reports. UBS Group set a $30.00 price target on Hims & Hers Health in a research report on Monday, June 23rd. Morgan Stanley reissued an "equal weight" rating and set a $40.00 price objective on shares of Hims & Hers Health in a report on Wednesday, June 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Citigroup reiterated a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, TD Cowen lowered shares of Hims & Hers Health from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $39.58.

Hims & Hers Health Stock Performance

The firm has a market cap of $10.72 billion, a PE ratio of 69.44, a PEG ratio of 1.88 and a beta of 2.02. The company's 50-day simple moving average is $53.54 and its two-hundred day simple moving average is $40.82.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $586.01 million for the quarter, compared to analysts' expectations of $535.21 million. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. Hims & Hers Health's quarterly revenue was up 110.7% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. On average, analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Hims & Hers Health news, insider Irene Becklund sold 8,485 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total transaction of $506,978.75. Following the transaction, the insider directly owned 712 shares of the company's stock, valued at approximately $42,542. The trade was a 92.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Chi sold 17,102 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $59.75, for a total transaction of $1,021,844.50. Following the completion of the transaction, the insider owned 278,654 shares of the company's stock, valued at $16,649,576.50. This trade represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 670,250 shares of company stock valued at $34,487,591 over the last three months. Insiders own 13.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMS. Webster Bank N. A. lifted its holdings in shares of Hims & Hers Health by 229.1% during the second quarter. Webster Bank N. A. now owns 905 shares of the company's stock valued at $45,000 after purchasing an additional 630 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Hims & Hers Health during the 1st quarter valued at approximately $30,000. Parallel Advisors LLC raised its stake in Hims & Hers Health by 175.0% during the second quarter. Parallel Advisors LLC now owns 1,155 shares of the company's stock valued at $58,000 after buying an additional 735 shares during the last quarter. Blume Capital Management Inc. boosted its holdings in Hims & Hers Health by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 600 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in 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. 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.