Hims & Hers Health (NYSE:HIMS) Reaches New 52-Week High – Should You Buy?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) reached a new 52-week high on Wednesday . The company traded as high as $35.02 and last traded at $34.77, with a volume of 5424326 shares trading hands. The stock had previously closed at $30.68.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. TD Cowen restated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Canaccord Genuity Group increased their price target on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $18.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Stock Performance

The firm’s fifty day moving average price is $21.42 and its 200 day moving average price is $19.65. The firm has a market cap of $6.63 billion, a P/E ratio of 68.95 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Hims & Hers Health’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. As a group, analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Oluyemi Okupe sold 269,739 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the completion of the sale, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. This represents a 64.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total value of $38,593.50. Following the transaction, the insider now owns 176,952 shares in the company, valued at approximately $2,919,708. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,153,519 shares of company stock worth $24,486,721 in the last three months. 17.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds have recently modified their holdings of HIMS. Nisa Investment Advisors LLC grew its position in Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after purchasing an additional 1,603 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Hims & Hers Health by 5,944.1% during the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after buying an additional 3,507 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Hims & Hers Health during the second quarter valued at $111,000. CWM LLC grew its stake in Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Hims & Hers Health by 91.0% in the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.