Hims & Hers Health (NYSE:HIMS) Trading 8.6% Higher - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price traded up 8.6% on Tuesday . The company traded as high as $62.17 and last traded at $59.93. 26,764,983 shares traded hands during trading, an increase of 44% from the average session volume of 18,564,292 shares. The stock had previously closed at $55.21.

Wall Street Analysts Forecast Growth

Several research firms have commented on HIMS. UBS Group reiterated a "mixed" rating on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Truist Financial cut their target price on shares of 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. TD Cowen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating and cut their price objective for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Leerink Partners lifted their target price on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 25th. Finally, Piper Sandler restated a "neutral" rating and set a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health has a consensus rating of "Hold" and an average target price of $37.67.

Hims & Hers Health Stock Down 6.3%

The business has a fifty day simple moving average of $34.36 and a 200 day simple moving average of $33.16. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 130.26 and a beta of 1.84.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, beating 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 return on equity of 10.97% and a net margin of 8.19%. The business's revenue for the quarter was up 110.7% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. Equities analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction dated Tuesday, February 18th. The stock was 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 owns 97,687 shares in the company, valued at $5,692,221.49. The trade was a 56.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares in the company, valued at $9,549,268.05. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 563,973 shares of company stock worth $21,951,757. 13.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its position in Hims & Hers Health by 15.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,672 shares of the company's stock worth $49,000 after acquiring an additional 227 shares in the last quarter. Allworth Financial LP raised its position in shares of Hims & Hers Health by 20.0% during the 1st quarter. Allworth Financial LP now owns 2,006 shares of the company's stock valued at $56,000 after acquiring an additional 334 shares in the last quarter. Signaturefd LLC raised its position in shares of 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 acquiring an additional 388 shares in the last quarter. SlateStone Wealth LLC raised its position in shares of 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 acquiring an additional 413 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Hims & Hers Health by 47.7% during the 1st quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock worth $42,000 after buying an additional 458 shares during the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

About Hims & Hers Health

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.