Investors Purchase Large Volume of Call Options on Hims & Hers Health (NYSE:HIMS)

Key Points

• Investors bought an unusually large volume of call options—252,816 call options, about a 77% increase vs. typical volume—while the stock jumped to $24.50 on heavy trading, indicating elevated bullish/options activity.
• Insider selling was notable: COO Michael Chi sold 97,289 shares (~$2.4M) and insiders sold 129,889 shares (~$3.23M) in the last quarter, leaving insiders with 17.71% ownership.
• Analysts carry a consensus "Hold" rating with a $31.71 target amid recent upgrades, and the company beat EPS ( $0.08 vs. $0.02) with revenue up 28.4% YoY but slightly below estimates.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders purchased 252,816 call options on the company. This represents an increase of approximately 77% compared to the typical volume of 143,026 call options.

Wall Street Analyst Weigh In

Several brokerages recently commented on HIMS. Zacks Research upgraded shares of Hims & Hers Health from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 25th. Barclays lifted their target price on shares of Hims & Hers Health from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, March 11th. Needham & Company LLC upgraded shares of Hims & Hers Health from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a report on Monday, March 9th. Wall Street Zen upgraded shares of Hims & Hers Health from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Leerink Partners lifted their target price on shares of Hims & Hers Health from $17.50 to $25.00 and gave the stock a "market perform" rating in a report on Monday, March 16th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.71.

Insider Activity at Hims & Hers Health

In other news, COO Michael Chi sold 97,289 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total transaction of $2,402,065.41. Following the transaction, the chief operating officer owned 407,282 shares in the company, valued at approximately $10,055,792.58. This trade represents a 19.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 3,975 shares of the firm's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $19.98, for a total transaction of $79,420.50. Following the transaction, the chief financial officer owned 318,789 shares in the company, valued at $6,369,404.22. This represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,889 shares of company stock worth $3,230,986 in the last quarter. 17.71% of the stock is owned by corporate insiders.

Institutional Trading of Hims & Hers Health

Institutional investors have recently made changes to their positions in the business. Quent Capital LLC bought a new position in Hims & Hers Health during the 3rd quarter valued at about $28,000. Flagship Harbor Advisors LLC bought a new position in Hims & Hers Health during the 4th quarter valued at about $28,000. Binnacle Investments Inc bought a new position in Hims & Hers Health during the 3rd quarter valued at about $28,000. Bogart Wealth LLC lifted its holdings in Hims & Hers Health by 235.8% during the 4th quarter. Bogart Wealth LLC now owns 900 shares of the company's stock valued at $29,000 after purchasing an additional 632 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Hims & Hers Health during the 1st quarter valued at about $30,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Stock Performance

NYSE HIMS traded up $3.14 during midday trading on Wednesday, hitting $24.50. The company had a trading volume of 42,369,261 shares, compared to its average volume of 32,627,348. The company has a quick ratio of 1.70, a current ratio of 1.90 and a debt-to-equity ratio of 1.80. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 48.03, a P/E/G ratio of 2.01 and a beta of 2.32. The firm has a fifty day simple moving average of $19.53 and a two-hundred day simple moving average of $32.76. Hims & Hers Health has a fifty-two week low of $13.74 and a fifty-two week high of $70.43.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. The company had revenue of $617.82 million for the quarter, compared to analyst estimates of $619.48 million. Hims & Hers Health had a net margin of 5.47% and a return on equity of 22.48%. The business's quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. Equities analysts forecast that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients' doorsteps.

The company's product portfolio addresses key areas of men's and women's health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.

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