Hims & Hers Health (NYSE:HIMS) Stock Price Up 7.5% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS) rose 7.5% during trading on Monday . The stock traded as high as $30.00 and last traded at $27.95. Approximately 11,997,698 shares were traded during trading, a decline of 19% from the average daily volume of 14,725,593 shares. The stock had previously closed at $25.99.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Hims & Hers Health from $21.00 to $22.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 18th. Truist Financial upped their price target on shares of Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. BTIG Research assumed coverage on Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Stock Performance

The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 62.97 and a beta of 1.65. The business’s 50 day moving average is $39.76 and its 200-day moving average is $30.11.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. Sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 7,259 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $24.07, for a total value of $174,724.13. Following the completion of the sale, the insider now directly owns 193,601 shares in the company, valued at $4,659,976.07. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Oluyemi Okupe sold 11,581 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $29.26, for a total transaction of $338,860.06. Following the completion of the transaction, the chief financial officer now directly owns 124,104 shares in the company, valued at approximately $3,631,283.04. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 809,806 shares of company stock valued at $30,923,658 over the last quarter. 17.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently made changes to their positions in HIMS. GAMMA Investing LLC boosted its stake in Hims & Hers Health by 6,651.5% during the first quarter. GAMMA Investing LLC now owns 151,976 shares of the company’s stock worth $44,910,000 after buying an additional 149,725 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Hims & Hers Health by 18.8% during the 4th quarter. California State Teachers Retirement System now owns 166,337 shares of the company’s stock worth $4,022,000 after acquiring an additional 26,363 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Hims & Hers Health during the 4th quarter valued at about $213,000. IronOak Wealth LLC. purchased a new stake in shares of Hims & Hers Health in the fourth quarter valued at about $922,000. Finally, Kilter Group LLC acquired a new stake in Hims & Hers Health during the fourth quarter worth about $1,053,000. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

About Hims & Hers Health

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.