Hims & Hers Health (NYSE:HIMS) Sees Strong Trading Volume After Better-Than-Expected Earnings

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 4,721,013 shares traded hands during mid-day trading, a decline of 2% from the previous session's volume of 4,811,649 shares.The stock last traded at $13.13 and had previously closed at $11.65.

The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. Hims & Hers Health had a negative return on equity of 7.21% and a negative net margin of 2.70%. The firm had revenue of $278.20 million for the quarter, compared to analyst estimates of $270.37 million. During the same period in the previous year, the company earned ($0.05) earnings per share. Hims & Hers Health's revenue was up 45.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. SVB Leerink began coverage on Hims & Hers Health in a report on Monday, February 26th. They issued a "market perform" rating and a $10.00 price target on the stock. TheStreet upgraded Hims & Hers Health from a "d" rating to a "c" rating in a research report on Monday, March 4th. Truist Financial boosted their price objective on Hims & Hers Health from $10.00 to $13.00 and gave the stock a "hold" rating in a report on Tuesday, February 27th. Citigroup upped their price objective on shares of Hims & Hers Health from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Finally, Imperial Capital raised shares of Hims & Hers Health from an "in-line" rating to an "outperform" rating and set a $16.00 target price on the stock in a research report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $15.07.

Insider Buying and Selling at Hims & Hers Health

In other news, COO Melissa Baird sold 11,750 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.08, for a total transaction of $141,940.00. Following the transaction, the chief operating officer now owns 538,932 shares of the company's stock, valued at approximately $6,510,298.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Andrew Dudum sold 188,888 shares of the business's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $12.54, for a total transaction of $2,368,655.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Melissa Baird sold 11,750 shares of the firm's stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.08, for a total value of $141,940.00. Following the completion of the sale, the chief operating officer now directly owns 538,932 shares in the company, valued at approximately $6,510,298.56. The disclosure for this sale can be found here. Insiders sold 736,191 shares of company stock worth $9,733,700 over the last ninety days. 31.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Hims & Hers Health in the 3rd quarter worth approximately $280,000. Bank of New York Mellon Corp lifted its position in Hims & Hers Health by 11.5% in the third quarter. Bank of New York Mellon Corp now owns 564,501 shares of the company's stock worth $3,551,000 after purchasing an additional 58,288 shares during the period. Mackenzie Financial Corp boosted its stake in Hims & Hers Health by 354.2% during the third quarter. Mackenzie Financial Corp now owns 51,243 shares of the company's stock worth $318,000 after buying an additional 39,962 shares in the last quarter. Strs Ohio boosted its stake in Hims & Hers Health by 33.0% during the third quarter. Strs Ohio now owns 102,000 shares of the company's stock worth $641,000 after buying an additional 25,300 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Hims & Hers Health by 7.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 72,253 shares of the company's stock valued at $454,000 after buying an additional 4,954 shares during the period. 63.52% of the stock is owned by institutional investors.

Hims & Hers Health Stock Performance

The business's 50 day moving average price is $14.04 and its 200-day moving average price is $10.35. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -112.27 and a beta of 0.97.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.