FIGS (NYSE:FIGS) Reaches New 1-Year High – Time to Buy?

FIGS, Inc. (NYSE:FIGS)’s stock price reached a new 52-week high on Friday . The stock traded as high as $12.42 and last traded at $11.9650, with a volume of 155537 shares. The stock had previously closed at $11.80.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of FIGS in a report on Monday, December 29th. Telsey Advisory Group restated a “market perform” rating and issued a $9.00 price target (up from $7.00) on shares of FIGS in a research report on Monday, November 3rd. BTIG Research raised their price target on shares of FIGS from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Wall Street Zen cut shares of FIGS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Morgan Stanley increased their price objective on FIGS from $5.25 to $7.50 and gave the company an “equal weight” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, FIGS currently has a consensus rating of “Hold” and a consensus price target of $9.60.

FIGS Stock Performance

The stock has a market cap of $1.96 billion, a P/E ratio of 119.25 and a beta of 1.30. The firm’s fifty day simple moving average is $10.48 and its 200-day simple moving average is $8.05.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The company had revenue of $151.66 million during the quarter, compared to analysts’ expectations of $142.39 million. During the same period in the prior year, the company posted ($0.01) earnings per share. FIGS’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts predict that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Heather L. Hasson sold 23,356 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $172,600.84. Following the sale, the insider owned 1,274,841 shares in the company, valued at $9,421,074.99. This represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Catherine Eva Spear sold 49,734 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $11.38, for a total value of $565,972.92. Following the sale, the chief executive officer directly owned 1,857,299 shares of the company’s stock, valued at $21,136,062.62. This represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 106,350 shares of company stock worth $1,027,582. Company insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

A number of institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP lifted its stake in shares of FIGS by 4.2% in the third quarter. GSA Capital Partners LLP now owns 52,045 shares of the company’s stock valued at $348,000 after buying an additional 2,083 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of FIGS by 0.8% in the 2nd quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock worth $1,878,000 after acquiring an additional 2,612 shares during the last quarter. Creative Planning raised its holdings in shares of FIGS by 4.9% in the 3rd quarter. Creative Planning now owns 68,932 shares of the company’s stock worth $461,000 after acquiring an additional 3,192 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in FIGS by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after acquiring an additional 3,276 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock valued at $29,000 after acquiring an additional 5,118 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.