Hims & Hers Health (NYSE:HIMS) Sets New 1-Year High – Still a Buy?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $35.78 and last traded at $36.18, with a volume of 3398214 shares traded. The stock had previously closed at $33.96.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIMS. Morgan Stanley started coverage on Hims & Hers Health in a research report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price objective for the company. BTIG Research began coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective on the stock. Piper Sandler upped their price objective on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and raised their target price for the company from $24.00 to $25.00 in a research note on Friday, January 10th. Finally, Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $25.13.

Hims & Hers Health Stock Up 10.8 %

The company has a market capitalization of $8.22 billion, a P/E ratio of 84.57 and a beta of 1.31. The business’s 50-day moving average price is $28.96 and its 200 day moving average price is $22.47.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 77.1% compared to the same quarter last year. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total value of $3,943,981.44. Following the transaction, the chief executive officer now owns 67,015 shares in the company, valued at approximately $1,399,273.20. This represents a 73.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the transaction, the insider now directly owns 169,803 shares in the company, valued at $4,712,033.25. This trade represents a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,256,067 shares of company stock valued at $34,459,485. 17.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its stake in shares of Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares during the period. Geode Capital Management LLC grew its position in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after acquiring an additional 482,177 shares during the period. Wellington Management Group LLP raised its holdings in Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after purchasing an additional 883,230 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Hims & Hers Health by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock valued at $30,714,000 after purchasing an additional 218,566 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Hims & Hers Health by 370.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,365,769 shares of the company’s stock valued at $33,024,000 after purchasing an additional 1,075,355 shares during the period. 63.52% of the stock is owned by institutional investors.

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.