Hims & Hers Health (NYSE:HIMS) Stock Price Up 2.9% – Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price rose 2.9% on Monday . The stock traded as high as $34.70 and last traded at $34.10. Approximately 5,594,673 shares traded hands during trading, a decline of 59% from the average daily volume of 13,489,024 shares. The stock had previously closed at $33.14.

Wall Street Analysts Forecast Growth

HIMS has been the topic of several recent analyst reports. Leerink Partners boosted their price objective on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 25th. TD Cowen reiterated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Citigroup reiterated a “sell” rating and issued a $27.00 price target on shares of Hims & Hers Health in a research note on Thursday, March 6th. BTIG Research started coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Needham & Company LLC upped their price target on shares of Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.31.

Hims & Hers Health Stock Performance

The stock has a market cap of $6.99 billion, a P/E ratio of 71.49 and a beta of 1.37. The stock’s fifty day simple moving average is $38.72 and its 200-day simple moving average is $28.49.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. As a group, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 36,460 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $27.09, for a total transaction of $987,701.40. Following the completion of the sale, the chief executive officer now owns 27,918 shares of the company’s stock, valued at approximately $756,298.62. This represents a 56.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the transaction, the insider now directly owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. The trade was a 61.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,042,006 shares of company stock valued at $36,830,024. Company insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC bought a new position in Hims & Hers Health in the 4th quarter valued at approximately $28,000. Raleigh Capital Management Inc. increased its position in Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,100 shares during the period. Blume Capital Management Inc. increased its position in Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the period. Smartleaf Asset Management LLC increased its position in Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after acquiring an additional 1,413 shares during the period. Finally, Summit Securities Group LLC acquired a new position in Hims & Hers Health in the 4th quarter valued at approximately $38,000. Institutional investors own 63.52% of the company’s stock.

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.