Hims & Hers Health (NYSE:HIMS) Stock Price Up 8.9% – Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS) shares were up 8.9% during trading on Tuesday . The company traded as high as $33.70 and last traded at $32.19. Approximately 18,141,457 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 22,197,922 shares. The stock had previously closed at $29.55.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HIMS shares. Bank of America lifted their price objective on Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a research report on Tuesday, March 18th. Citigroup reaffirmed a “sell” rating and set a $27.00 price target on shares of Hims & Hers Health in a report on Thursday, March 6th. Morgan Stanley lowered shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Piper Sandler raised their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Finally, Canaccord Genuity Group upped their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.31.

Hims & Hers Health Stock Down 10.4 %

The business has a 50 day moving average of $39.97 and a 200 day moving average of $29.79. The company has a market capitalization of $6.22 billion, a P/E ratio of 63.60 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. On average, research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity

In related news, insider Soleil Boughton sold 268,932 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the sale, the insider now owns 169,803 shares in the company, valued at approximately $4,712,033.25. This represents a 61.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 36,460 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $27.09, for a total value of $987,701.40. Following the completion of the sale, the chief executive officer now owns 27,918 shares of the company’s stock, valued at approximately $756,298.62. This represents a 56.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,064,954 shares of company stock worth $37,984,259. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

Several institutional investors have recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC purchased a new stake in shares of Hims & Hers Health in the third quarter worth approximately $672,000. Means Investment CO. Inc. increased its stake in Hims & Hers Health by 23.5% in the 4th quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock worth $1,210,000 after buying an additional 9,508 shares during the period. Principal Financial Group Inc. increased its stake in Hims & Hers Health by 102.0% in the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after buying an additional 146,621 shares during the period. State of Alaska Department of Revenue purchased a new stake in Hims & Hers Health in the 4th quarter valued at about $2,628,000. Finally, Pacer Advisors Inc. bought a new position in Hims & Hers Health in the 4th quarter worth about $374,000. Institutional investors own 63.52% of the company’s stock.

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.