Hims & Hers Health (NYSE:HIMS) Trading 3.1% Higher - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price shot up 3.1% during mid-day trading on Thursday . The company traded as high as $62.54 and last traded at $61.09. 43,207,932 shares were traded during mid-day trading, an increase of 101% from the average session volume of 21,448,839 shares. The stock had previously closed at $59.24.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen upgraded Hims & Hers Health from a "hold" rating to a "buy" rating in a research note on Sunday. TD Cowen lowered shares of Hims & Hers Health from a "buy" rating to a "hold" rating and cut their target price for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Morgan Stanley restated an "equal weight" rating and set a $40.00 target price on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Finally, Canaccord Genuity Group lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.00.

Hims & Hers Health Trading Up 3.1%

The firm has a fifty day simple moving average of $47.00 and a two-hundred day simple moving average of $38.75. The stock has a market cap of $13.67 billion, a PE ratio of 88.54, a PEG ratio of 2.23 and a beta of 2.09.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.20 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 analysts' expectations of $535.21 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The business's quarterly revenue was up 110.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In related news, COO Melissa Baird sold 67,687 shares of Hims & Hers Health stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $34.84, for a total value of $2,358,215.08. Following the transaction, the chief operating officer now owns 751,243 shares in the company, valued at $26,173,306.12. This trade represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Dudum sold 36,460 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $28.04, for a total transaction of $1,022,338.40. Following the sale, the chief executive officer now owns 92,103 shares of the company's stock, valued at approximately $2,582,568.12. The trade was a 28.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 751,034 shares of company stock worth $36,486,522. 13.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in shares of Hims & Hers Health by 15.7% during the first quarter. Smartleaf Asset Management LLC now owns 1,672 shares of the company's stock valued at $49,000 after purchasing an additional 227 shares during the period. Allworth Financial LP grew its stake in shares of Hims & Hers Health by 20.0% in the first quarter. Allworth Financial LP now owns 2,006 shares of the company's stock worth $56,000 after purchasing an additional 334 shares during the last quarter. Signaturefd LLC increased its holdings in Hims & Hers Health by 17.7% during the 1st quarter. Signaturefd LLC now owns 2,586 shares of the company's stock valued at $76,000 after purchasing an additional 388 shares during the period. SlateStone Wealth LLC raised its position in Hims & Hers Health by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock valued at $257,000 after purchasing an additional 413 shares during the last quarter. Finally, Kilter Group LLC lifted its holdings in Hims & Hers Health by 1.0% in the 1st quarter. Kilter Group LLC now owns 43,989 shares of the company's stock worth $1,300,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 63.52% of the company's stock.

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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