Hims & Hers Health (NYSE:HIMS) Shares Gap Up – Still a Buy?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up prior to trading on Monday . The stock had previously closed at $28.09, but opened at $29.93. Hims & Hers Health shares last traded at $29.97, with a volume of 6,563,006 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Leerink Partners upped their price target 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. Piper Sandler boosted their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Canaccord Genuity Group raised their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Truist Financial cut their target price on shares of Hims & Hers Health from $39.00 to $33.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.08.

Hims & Hers Health Stock Down 0.2 %

The business has a fifty day simple moving average of $34.24 and a two-hundred day simple moving average of $31.08. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 63.52 and a beta of 1.65.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results 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 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 analysts’ expectations of $494.56 million. As a group, equities analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Hims & Hers Health news, CEO Andrew Dudum sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $35.22, for a total value of $3,522,000.00. Following the completion of the sale, the chief executive officer now owns 27,918 shares of the company’s stock, valued at approximately $983,271.96. This represents a 78.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Irene Becklund sold 2,203 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $28.78, for a total transaction of $63,402.34. Following the completion of the transaction, the insider now directly owns 8,007 shares of the company’s stock, valued at $230,441.46. This trade represents a 21.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 712,998 shares of company stock valued at $27,992,450 over the last 90 days. 17.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Means Investment CO. Inc. lifted its position in Hims & Hers Health by 23.5% in the 4th quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock valued at $1,210,000 after acquiring an additional 9,508 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Hims & Hers Health by 102.0% in the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock valued at $5,349,000 after purchasing an additional 146,621 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Hims & Hers Health in the fourth quarter valued at about $18,048,000. State of Alaska Department of Revenue acquired a new position in shares of Hims & Hers Health during the fourth quarter worth about $2,628,000. Finally, Pacer Advisors Inc. bought a new position in shares of Hims & Hers Health during the fourth quarter worth about $374,000. 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.