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

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

Analyst Upgrades and Downgrades

HIMS has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “sell” rating and set a $27.00 target price on shares of Hims & Hers Health in a report on Thursday, March 6th. Leerink Partners raised their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, February 25th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Needham & Company LLC raised their target price 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. Finally, Piper Sandler increased their target price on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.23.

Hims & Hers Health Stock Performance

The stock has a 50-day moving average of $38.23 and a two-hundred day moving average of $27.90. The company has a market cap of $7.00 billion, a P/E ratio of 71.65 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 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 business had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael Chi sold 17,303 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $48.14, for a total value of $832,966.42. Following the completion of the transaction, the insider now owns 193,601 shares of the company’s stock, valued at approximately $9,319,952.14. This trade represents a 8.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 78,127 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $29.62, for a total transaction of $2,314,121.74. Following the completion of the sale, the chief executive officer now directly owns 109,956 shares in the company, valued at approximately $3,256,896.72. This represents a 41.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 969,191 shares of company stock valued at $34,005,375. 17.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Several large investors have recently added to or reduced their stakes in the stock. IronOak Wealth LLC. purchased a new position in shares of Hims & Hers Health during the fourth quarter worth approximately $922,000. Kilter Group LLC bought a new stake in Hims & Hers Health during the 4th quarter valued at $1,053,000. Cim LLC lifted its holdings in shares of Hims & Hers Health by 1.0% in the 4th quarter. Cim LLC now owns 71,869 shares of the company’s stock worth $1,738,000 after buying an additional 694 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Hims & Hers Health during the 4th quarter worth $4,900,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Hims & Hers Health during the 4th quarter worth $200,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.