Hims & Hers Health (NYSE:HIMS) Shares Up 9.6% – What’s Next?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) shot up 9.6% during mid-day trading on Monday . The stock traded as high as $58.60 and last traded at $56.96. 29,033,892 shares were traded during mid-day trading, an increase of 58% from the average session volume of 18,399,965 shares. The stock had previously closed at $51.96.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $61.00 price target on shares of Hims & Hers Health in a report on Tuesday, May 6th. Bank of America upped their price target on Hims & Hers Health from $22.00 to $26.00 and gave the stock an “underperform” rating in a report on Tuesday, April 29th. Leerink Partners upped their price target on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Piper Sandler reiterated a “neutral” rating and set a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Finally, UBS Group reiterated a “mixed” rating on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.67.

Hims & Hers Health Stock Up 6.3%

The stock has a fifty day moving average of $32.97 and a 200-day moving average of $32.51. The stock has a market cap of $12.36 billion, a PE ratio of 125.54 and a beta of 1.84.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. During the same period last year, the firm earned $0.05 EPS. The company’s revenue for the quarter was up 110.7% on a year-over-year basis. Equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Melissa Baird sold 33,333 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $25.78, for a total value of $859,324.74. Following the sale, the chief operating officer now owns 805,083 shares in the company, valued at approximately $20,755,039.74. This represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Dudum sold 50,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $36.39, for a total transaction of $1,819,500.00. Following the completion of the sale, the chief executive officer now owns 92,103 shares in the company, valued at approximately $3,351,628.17. This trade represents a 35.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 631,660 shares of company stock valued at $24,978,043. Company insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in shares of Hims & Hers Health in the fourth quarter valued at approximately $28,000. Raleigh Capital Management Inc. boosted its holdings 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 worth $29,000 after buying an additional 1,100 shares in the last quarter. Blume Capital Management Inc. boosted its holdings in Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 600 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Hims & Hers Health by 4,415.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after buying an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in Hims & Hers Health during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds 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.