Hims & Hers Health (NYSE:HIMS) Shares Gap Up – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $31.25, but opened at $32.20. Hims & Hers Health shares last traded at $32.14, with a volume of 3,528,936 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HIMS shares. TD Cowen restated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Morgan Stanley started coverage on shares of Hims & Hers Health in a research note on Tuesday. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, Needham & Company LLC began coverage on Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Hims & Hers Health currently has a consensus rating of “Hold” and an average target price of $22.80.

Hims & Hers Health Stock Performance

The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 70.09 and a beta of 1.25. The business has a fifty day simple moving average of $25.02 and a 200-day simple moving average of $21.06.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) earnings per share. On average, equities analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In other news, CEO Andrew Dudum sold 45,767 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $16.33, for a total value of $747,375.11. Following the sale, the chief executive officer now directly owns 67,015 shares of the company’s stock, valued at approximately $1,094,354.95. This represents a 40.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Chi sold 7,259 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $32.25, for a total transaction of $234,102.75. Following the sale, the insider now owns 184,947 shares of the company’s stock, valued at approximately $5,964,540.75. This trade represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,064,976 shares of company stock valued at $25,396,895. Insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after buying an additional 1,603 shares during the period. Quest Partners LLC lifted its position in shares of Hims & Hers Health by 5,944.1% during the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after acquiring an additional 3,507 shares during the period. CWM LLC lifted its position in shares of Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after acquiring an additional 1,054 shares during the period. Van ECK Associates Corp bought a new position in Hims & Hers Health during the second quarter worth $111,000. Finally, Quarry LP grew its holdings in Hims & Hers Health by 91.0% in the third quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after purchasing an additional 2,913 shares during the period. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.