Hims & Hers Health (NYSE:HIMS) Shares Gap Up to $20.69

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Wednesday . The stock had previously closed at $20.69, but opened at $21.21. Hims & Hers Health shares last traded at $20.81, with a volume of 123,397 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HIMS. Canaccord Genuity Group lifted their price target on shares of Hims & Hers Health from $20.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Seaport Res Ptn reiterated a “buy” rating on shares of Hims & Hers Health in a research report on Friday, April 26th. Citigroup lowered Hims & Hers Health from a “buy” rating to a “neutral” rating and increased their target price for the stock from $16.00 to $20.00 in a research report on Wednesday, May 22nd. Bank of America increased their price objective on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Hims & Hers Health from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Hims & Hers Health has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Hims & Hers Health Price Performance

The business has a fifty day moving average of $18.77 and a 200-day moving average of $14.16. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -2,067.00 and a beta of 1.08.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative net margin of 0.24% and a negative return on equity of 0.70%. The company had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $270.37 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The business’s revenue was up 45.8% compared to the same quarter last year. As a group, research analysts anticipate that Hims & Hers Health, Inc. will post 0.2 EPS for the current year.

Insider Activity

In related news, insider Soleil Boughton sold 2,335 shares of Hims & Hers Health stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $20.28, for a total value of $47,353.80. Following the transaction, the insider now directly owns 169,144 shares in the company, valued at approximately $3,430,240.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Soleil Boughton sold 2,335 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $20.28, for a total value of $47,353.80. Following the completion of the transaction, the insider now owns 169,144 shares in the company, valued at approximately $3,430,240.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Melissa Baird sold 17,625 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $20.42, for a total value of $359,902.50. Following the sale, the chief operating officer now owns 585,800 shares in the company, valued at approximately $11,962,036. The disclosure for this sale can be found here. In the last 90 days, insiders sold 974,371 shares of company stock worth $18,407,531. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIMS. FNY Investment Advisers LLC purchased a new stake in shares of Hims & Hers Health in the fourth quarter valued at $48,000. Belpointe Asset Management LLC acquired a new stake in Hims & Hers Health during the 3rd quarter worth about $76,000. Certuity LLC purchased a new position in Hims & Hers Health during the 4th quarter valued at about $109,000. Custom Index Systems LLC acquired a new position in shares of Hims & Hers Health in the 4th quarter valued at about $132,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Hims & Hers Health in the fourth quarter worth approximately $155,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

About Hims & Hers Health

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.