Hims & Hers Health (NYSE:HIMS) Trading Up 15.8% – What’s Next?

Hims & Hers Health, Inc. (NYSE:HIMS) shares were up 15.8% on Monday . The stock traded as high as $29.33 and last traded at $29.32. Approximately 2,155,659 shares traded hands during trading, a decline of 77% from the average daily volume of 9,491,215 shares. The stock had previously closed at $25.33.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HIMS. Piper Sandler reissued a “neutral” rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Canaccord Genuity Group raised their price objective on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Hims & Hers Health presently has a consensus rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Stock Performance

The company’s 50 day moving average price is $20.55 and its 200-day moving average price is $19.31. The stock has a market cap of $6.85 billion, a P/E ratio of 66.64 and a beta of 1.06.

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

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at approximately $487,789.12. The trade was a 84.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Melissa Baird sold 58,750 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $21.04, for a total transaction of $1,236,100.00. Following the transaction, the chief operating officer now directly owns 630,166 shares of the company’s stock, valued at $13,258,692.64. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,056,183 shares of company stock valued at $21,501,682. 17.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Hims & Hers Health by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock valued at $221,379,000 after buying an additional 136,907 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after acquiring an additional 3,205,108 shares during the period. State Street Corp lifted its position in shares of Hims & Hers Health by 4.7% during the third quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after acquiring an additional 206,078 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Hims & Hers Health by 12.7% in the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after acquiring an additional 482,177 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Hims & Hers Health by 34.5% in the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after purchasing an additional 883,230 shares in the last quarter. Hedge funds and other institutional investors 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.