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

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

Analyst Ratings Changes

Several brokerages recently issued reports on HIMS. Bank of America lifted their price target on shares of Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a report on Tuesday, March 18th. Canaccord Genuity Group upped their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Leerink Partners raised their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, February 25th. Truist Financial boosted their price objective on Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Finally, BTIG Research initiated coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.31.

Hims & Hers Health Stock Performance

The firm’s fifty day simple moving average is $39.29 and its 200-day simple moving average is $30.23. The stock has a market cap of $6.53 billion, a P/E ratio of 66.80 and a beta of 1.65.

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

Insiders Place Their Bets

In other news, CFO Oluyemi Okupe sold 11,581 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $24.44, for a total transaction of $283,039.64. Following the transaction, the chief financial officer now owns 118,077 shares of the company’s stock, valued at $2,885,801.88. This represents a 8.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Chi sold 7,259 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $24.07, for a total value of $174,724.13. Following the sale, the insider now owns 193,601 shares of the company’s stock, valued at approximately $4,659,976.07. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 809,806 shares of company stock worth $30,923,658. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIMS. Crewe Advisors LLC bought a new position in Hims & Hers Health in the 4th quarter valued at about $28,000. Raleigh Capital Management Inc. lifted its holdings in shares of Hims & Hers Health by 1,100.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 1,100 shares in the last quarter. Blume Capital Management Inc. boosted its position in shares of Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 600 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Hims & Hers Health by 4,415.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after buying an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Hims & Hers Health in the 4th quarter valued at $38,000. 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.