Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase Following Insider Buying Activity

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Thursday after an insider bought additional shares in the company. 12,205,356 shares were traded during mid-day trading, an increase of 37% from the previous session’s volume of 8,904,333 shares.The stock last traded at $23.51 and had previously closed at $27.60.

Specifically, Director Anja Manuel acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $26.94 per share, with a total value of $107,760.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $107,760. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

HIMS has been the subject of a number of research analyst reports. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $32.00 to $18.00 in a research report on Thursday. Canaccord Genuity Group upped their target price on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned 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 $20.71.

Hims & Hers Health Price Performance

The stock has a market capitalization of $4.16 billion, a PE ratio of 44.00 and a beta of 1.06. The business has a 50 day moving average price of $19.76 and a 200 day moving average price of $18.83.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating 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 company had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. During the same period last year, the firm posted ($0.04) earnings per share. Hims & Hers Health’s revenue was up 77.1% compared to the same quarter last year. On average, equities analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in shares of Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after purchasing an additional 1,603 shares during the last quarter. Quest Partners LLC increased its position in Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after acquiring an additional 3,507 shares during the last quarter. Van ECK Associates Corp bought a new position in Hims & Hers Health during the second quarter valued at $111,000. CWM LLC raised its stake in shares of Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after acquiring an additional 1,054 shares during the period. Finally, Quarry LP lifted its holdings in shares of Hims & Hers Health by 91.0% in the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after acquiring an additional 2,913 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.

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.