Hims & Hers Health (NYSE:HIMS) Trading Up 4.5% – Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 4.5% during mid-day trading on Monday . The stock traded as high as $38.63 and last traded at $38.97. 5,949,811 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 10,106,234 shares. The stock had previously closed at $37.28.

Analysts Set New Price Targets

A number of research firms recently commented on HIMS. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Piper Sandler lifted their target price 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. TD Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.13.

Hims & Hers Health Stock Performance

The firm’s fifty day simple moving average is $29.20 and its 200 day simple moving average is $22.57. The stock has a market capitalization of $8.55 billion, a P/E ratio of 89.13 and a beta of 1.35.

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

Insider Transactions at Hims & Hers Health

In related news, CEO Andrew Dudum sold 27,098 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $30.08, for a total value of $815,107.84. Following the completion of the transaction, the chief executive officer now owns 27,918 shares in the company, valued at $839,773.44. This trade represents a 49.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Chi sold 17,304 shares of Hims & Hers Health stock in a transaction on Friday, January 24th. The stock was sold at an average price of $31.00, for a total transaction of $536,424.00. Following the transaction, the insider now owns 193,601 shares in the company, valued at approximately $6,001,631. This trade represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,256,067 shares of company stock valued at $34,459,485. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in shares of Hims & Hers Health during the fourth quarter worth $28,000. Raleigh Capital Management Inc. boosted its position in Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,100 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Hims & Hers Health during the 4th quarter worth about $48,000. GAMMA Investing LLC raised its position in shares of Hims & Hers Health by 2,173.7% in the 4th quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock worth $54,000 after acquiring an additional 2,152 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Hims & Hers Health by 48.2% in the 4th quarter. Principal Securities Inc. now owns 3,079 shares of the company’s stock worth $74,000 after acquiring an additional 1,002 shares in the last quarter. 63.52% of the stock is owned by institutional investors.

About Hims & Hers Health

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.