Hims & Hers Health (NYSE:HIMS) Stock Price Up 5.7% – What’s Next?

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and increased their target price for the stock from $24.00 to $25.00 in a report on Friday, January 10th. Finally, BTIG Research initiated coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.13.

Hims & Hers Health Price Performance

The firm has a market capitalization of $6.82 billion, a PE ratio of 71.01 and a beta of 1.31. The firm has a fifty day moving average price of $28.41 and a 200 day moving average price of $22.26.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In related news, insider Patrick Harrison Carroll sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $22.07, for a total transaction of $331,050.00. Following the completion of the sale, the insider now directly owns 196,941 shares in the company, valued at approximately $4,346,487.87. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the completion of the transaction, the chief executive officer now owns 67,015 shares in the company, valued at approximately $1,399,273.20. This represents a 73.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,256,067 shares of company stock worth $34,459,485. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the company. Main Management ETF Advisors LLC bought a new position in Hims & Hers Health during the third quarter valued at approximately $672,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Hims & Hers Health during the 3rd quarter worth $604,000. Carnegie Investment Counsel bought a new position in shares of Hims & Hers Health during the 3rd quarter valued at $5,531,000. Royce & Associates LP lifted its stake in shares of Hims & Hers Health by 17.0% in the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after purchasing an additional 49,500 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Hims & Hers Health in the third quarter worth $634,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.