Hims & Hers Health (NYSE:HIMS) Stock Price Up 11.4% - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares traded up 11.4% on Wednesday . The company traded as high as $54.89 and last traded at $55.72. 19,218,699 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 24,279,769 shares. The stock had previously closed at $50.01.

Analyst Ratings Changes

A number of equities research analysts have commented on HIMS shares. Needham & Company LLC restated a "hold" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. UBS Group set a $30.00 price objective on Hims & Hers Health in a research report on Monday, June 23rd. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and lowered their price target for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $40.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, June 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Stock Up 0.4%

The business has a 50-day simple moving average of $53.29 and a two-hundred day simple moving average of $42.56. The stock has a market capitalization of $12.88 billion, a P/E ratio of 83.31, a PEG ratio of 2.14 and a beta of 2.02.

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

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 17,102 shares of the firm's stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $58.40, for a total value of $7,482,616.80. Following the sale, the chief executive officer directly owned 89,311 shares in the company, valued at approximately $5,215,762.40. This represents a 58.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 772,518 shares of company stock valued at $41,519,462. 13.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC grew its holdings in shares of Hims & Hers Health by 3.8% during the second quarter. Concurrent Investment Advisors LLC now owns 13,732 shares of the company's stock worth $685,000 after buying an additional 502 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Hims & Hers Health by 155.4% in the second quarter. Apollon Wealth Management LLC now owns 7,207 shares of the company's stock valued at $359,000 after purchasing an additional 20,207 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Hims & Hers Health in the second quarter valued at approximately $230,000. SLT Holdings LLC bought a new position in Hims & Hers Health in the second quarter valued at approximately $405,000. Finally, Blue Trust Inc. lifted its holdings in Hims & Hers Health by 95.9% during the 2nd quarter. Blue Trust Inc. now owns 3,767 shares of the company's stock valued at $188,000 after purchasing an additional 1,844 shares during the last quarter. Institutional investors and hedge funds 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.