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

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $20.76, but opened at $22.08. Hims & Hers Health shares last traded at $20.72, with a volume of 8,631,906 shares trading hands.

The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 11.67%. The company had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The business’s quarterly revenue was up 77.1% compared to the same quarter last year.

Analyst Ratings Changes

Several research firms have issued reports on HIMS. Piper Sandler reissued a “neutral” rating and issued a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday. Truist Financial lifted their target price on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Bank of America boosted their price objective on shares of Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, TD Cowen raised their target price on shares of Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 2,345 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.65, for a total value of $34,354.25. Following the sale, the insider now owns 159,796 shares in the company, valued at $2,341,011.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Christiane Pendarvis sold 7,000 shares of Hims & Hers Health stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $15.15, for a total transaction of $106,050.00. Following the completion of the sale, the director now owns 23,917 shares of the company’s stock, valued at approximately $362,342.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Soleil Boughton sold 2,345 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.65, for a total transaction of $34,354.25. Following the completion of the transaction, the insider now owns 159,796 shares in the company, valued at approximately $2,341,011.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 650,659 shares of company stock worth $11,712,198 in the last ninety days. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares during the period. Quest Partners LLC raised its stake in Hims & Hers Health by 5,944.1% in the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares in the last quarter. Van ECK Associates Corp bought a new stake in Hims & Hers Health in the 2nd quarter valued at about $111,000. CWM LLC grew its position in shares of Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Hims & Hers Health by 55.9% during the second quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock worth $133,000 after purchasing an additional 2,354 shares during the period. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 53.27 and a beta of 1.06. The business’s 50-day moving average price is $18.22 and its two-hundred day moving average price is $18.26.

Hims & Hers Health Company Profile

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.