Hims & Hers Health (NYSE:HIMS) Shares Gap Up on Earnings Beat

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $11.26, but opened at $11.80. Hims & Hers Health shares last traded at $11.68, with a volume of 3,705,664 shares trading hands.

The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative net margin of 2.70% and a negative return on equity of 7.21%. The company had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $270.37 million. During the same quarter last year, the business earned ($0.05) EPS. The business’s revenue was up 45.8% on a year-over-year basis.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Leerink Partnrs reiterated a “market perform” rating on shares of Hims & Hers Health in a research note on Monday, February 26th. Seaport Res Ptn reiterated a “buy” rating on shares of Hims & Hers Health in a research note on Friday, April 26th. Citigroup raised their price objective on shares of Hims & Hers Health from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. SVB Leerink began coverage on shares of Hims & Hers Health in a research note on Monday, February 26th. They issued a “market perform” rating and a $10.00 price objective for the company. Finally, Guggenheim raised their target price on shares of Hims & Hers Health from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.07.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 97,208 shares of Hims & Hers Health stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $9.58, for a total transaction of $931,252.64. Following the completion of the sale, the chief executive officer now directly owns 51,653 shares in the company, valued at $494,835.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Andrew Dudum sold 97,208 shares of Hims & Hers Health stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $9.58, for a total transaction of $931,252.64. Following the completion of the sale, the chief executive officer now directly owns 51,653 shares in the company, valued at $494,835.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Melissa Baird sold 11,750 shares of Hims & Hers Health stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.08, for a total transaction of $141,940.00. Following the sale, the chief operating officer now owns 538,932 shares of the company’s stock, valued at $6,510,298.56. The disclosure for this sale can be found here. Insiders sold a total of 736,191 shares of company stock worth $9,733,700 over the last ninety days. 31.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in Hims & Hers Health in the first quarter valued at approximately $228,000. Sei Investments Co. grew its holdings in Hims & Hers Health by 206.9% in the first quarter. Sei Investments Co. now owns 56,202 shares of the company’s stock valued at $869,000 after purchasing an additional 37,890 shares during the period. Swiss National Bank grew its holdings in Hims & Hers Health by 0.7% in the first quarter. Swiss National Bank now owns 281,500 shares of the company’s stock valued at $4,355,000 after purchasing an additional 2,000 shares during the period. IvyRock Asset Management HK Ltd purchased a new stake in Hims & Hers Health in the first quarter valued at approximately $433,000. Finally, Quantbot Technologies LP grew its holdings in Hims & Hers Health by 3,444.9% in the first quarter. Quantbot Technologies LP now owns 214,677 shares of the company’s stock valued at $3,321,000 after purchasing an additional 208,621 shares during the period. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Stock Up 6.1 %

The business’s fifty day moving average is $14.04 and its 200-day moving average is $10.35. The stock has a market capitalization of $2.65 billion, a PE ratio of -112.36 and a beta of 0.97.

About Hims & Hers Health

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.