Hims & Hers Health (NYSE:HIMS) Sees Unusually-High Trading Volume After Strong Earnings

Hims & Hers Health, Inc. (NYSE:HIMS) shares saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 3,860,532 shares changed hands during trading, a decline of 50% from the previous session’s volume of 7,673,416 shares.The stock last traded at $17.06 and had previously closed at $17.84.

The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $315.65 million for the quarter, compared to analyst estimates of $302.43 million. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. Hims & Hers Health’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial upped their price target on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group upped their price target on Hims & Hers Health from $14.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft upped their price target on Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday. Bank of America upped their price target on Hims & Hers Health from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Piper Sandler reiterated a “neutral” rating and set a $18.00 price target on shares of Hims & Hers Health in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Insider Buying and Selling

In related news, COO Melissa Baird sold 16,784 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $17.00, for a total value of $285,328.00. Following the completion of the sale, the chief operating officer now directly owns 585,800 shares in the company, valued at approximately $9,958,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $19.88, for a total value of $3,755,093.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Melissa Baird sold 16,784 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $17.00, for a total value of $285,328.00. Following the completion of the sale, the chief operating officer now owns 585,800 shares of the company’s stock, valued at $9,958,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 980,907 shares of company stock worth $19,445,689. 17.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Hims & Hers Health by 1.0% during the first quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock worth $221,379,000 after buying an additional 136,907 shares during the last quarter. Forerunner Ventures Management LLC acquired a new position in shares of Hims & Hers Health in the fourth quarter valued at $86,836,000. Dimensional Fund Advisors LP raised its stake in shares of Hims & Hers Health by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,147,927 shares of the company’s stock valued at $19,117,000 after purchasing an additional 193,507 shares in the last quarter. Farallon Capital Management LLC raised its stake in shares of Hims & Hers Health by 3,890.5% in the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after purchasing an additional 1,634,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Hims & Hers Health by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,294,759 shares of the company’s stock valued at $11,523,000 after purchasing an additional 22,009 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Price Performance

The business has a 50 day moving average of $21.28 and a 200 day moving average of $15.86. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -1,604.00 and a beta of 1.08.

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.