Hims & Hers Health (NYSE:HIMS) Shares Up 8.3% – Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price traded up 8.3% during mid-day trading on Tuesday . The stock traded as high as $37.69 and last traded at $37.33. 8,905,548 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 13,230,403 shares. The stock had previously closed at $34.47.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HIMS. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Hims & Hers Health in a research note on Thursday, March 6th. Canaccord Genuity Group upped their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Leerink Partners increased their price objective 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. TD Cowen reissued a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and an average price target of $37.23.

Hims & Hers Health Stock Up 3.9 %

The stock’s fifty day simple moving average is $37.83 and its two-hundred day simple moving average is $27.73. The firm has a market cap of $7.95 billion, a PE ratio of 81.37 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $481.14 million for the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. On average, equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 18,959 shares of Hims & Hers Health stock in a transaction on Friday, December 20th. The shares were sold at an average price of $25.77, for a total value of $488,573.43. Following the sale, the chief financial officer now directly owns 132,578 shares in the company, valued at approximately $3,416,535.06. The trade was a 12.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Soleil Boughton sold 4,152 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 969,191 shares of company stock valued at $34,005,375 over the last three months. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IronOak Wealth LLC. purchased a new position in shares of Hims & Hers Health in the 4th quarter worth approximately $922,000. Kilter Group LLC purchased a new position in Hims & Hers Health during the fourth quarter worth $1,053,000. Cim LLC increased its position in Hims & Hers Health by 1.0% during the fourth quarter. Cim LLC now owns 71,869 shares of the company’s stock valued at $1,738,000 after acquiring an additional 694 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Hims & Hers Health in the fourth quarter valued at $4,900,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Hims & Hers Health in the 4th quarter worth about $200,000. Hedge funds and other institutional investors 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.