FIGS (NYSE:FIGS) Reaches New 1-Year High – Still a Buy?

Shares of FIGS, Inc. (NYSE:FIGS) reached a new 52-week high on Thursday . The company traded as high as $12.50 and last traded at $12.3090, with a volume of 60978 shares. The stock had previously closed at $12.30.

Analysts Set New Price Targets

Several research firms have recently weighed in on FIGS. Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 target price (up from $7.00) on shares of FIGS in a report on Monday, November 3rd. Morgan Stanley boosted their price objective on FIGS from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday. Zacks Research raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. Finally, Wolfe Research raised shares of FIGS to a “buy” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.70.

FIGS Stock Performance

The company has a market cap of $1.91 billion, a PE ratio of 115.81 and a beta of 1.30. The stock’s 50-day simple moving average is $11.01 and its 200 day simple moving average is $8.32.

FIGS (NYSE:FIGS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The firm had revenue of $151.66 million during the quarter, compared to the consensus estimate of $142.39 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Insider Transactions at FIGS

In related news, insider Heather L. Hasson sold 23,356 shares of FIGS stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $172,600.84. Following the completion of the sale, the insider owned 1,274,841 shares in the company, valued at approximately $9,421,074.99. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sarah Oughtred sold 22,745 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total value of $168,085.55. Following the transaction, the chief financial officer directly owned 845,345 shares in the company, valued at approximately $6,247,099.55. This represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 106,350 shares of company stock valued at $1,027,582 in the last ninety days. Corporate insiders own 29.44% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bamco Inc. NY increased its stake in shares of FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock worth $338,256,000 after buying an additional 1,302,823 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in FIGS by 2,139.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after buying an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of FIGS by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after acquiring an additional 1,144,962 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of FIGS by 940.7% in the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock valued at $5,212,000 after acquiring an additional 835,300 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of FIGS by 45.7% during the 3rd quarter. Marshall Wace LLP now owns 2,585,258 shares of the company’s stock valued at $17,295,000 after acquiring an additional 810,719 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.