Hims & Hers Health (NYSE:HIMS) Trading 5.7% Higher – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) shares shot up 5.7% during mid-day trading on Tuesday . The stock traded as high as $31.39 and last traded at $32.25. 977,399 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 9,715,154 shares. The stock had previously closed at $30.51.

Analyst Upgrades and Downgrades

Several research firms have commented on HIMS. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Canaccord Genuity Group increased their target price on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and increased their price objective for the company from $24.00 to $25.00 in a report on Friday, January 10th. Finally, Morgan Stanley assumed coverage on Hims & Hers Health in a report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight 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 target price of $25.13.

Hims & Hers Health Stock Performance

The stock’s 50-day moving average price is $28.77 and its 200-day moving average price is $22.39. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 72.29 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 earnings per share 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 analyst estimates of $382.20 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Hims & Hers Health’s revenue was up 77.1% compared to the same quarter last year. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the completion of the sale, the chief executive officer now owns 67,015 shares of the company’s stock, valued at approximately $1,399,273.20. The trade was a 73.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Chi sold 17,304 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $31.00, for a total value of $536,424.00. Following the completion of the transaction, the insider now owns 193,601 shares in the company, valued at approximately $6,001,631. This trade represents a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,256,067 shares of company stock worth $34,459,485 over the last ninety days. 17.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Main Management ETF Advisors LLC purchased a new position in Hims & Hers Health in the third quarter valued at about $672,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Hims & Hers Health during the 3rd quarter valued at about $604,000. Carnegie Investment Counsel acquired a new position in Hims & Hers Health during the 3rd quarter worth approximately $5,531,000. Royce & Associates LP boosted its holdings in Hims & Hers Health by 17.0% in the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after acquiring an additional 49,500 shares during the period. Finally, Versor Investments LP acquired a new stake in Hims & Hers Health in the third quarter valued at approximately $634,000. 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.