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

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Tuesday . The stock had previously closed at $31.25, but opened at $32.20. Hims & Hers Health shares last traded at $32.14, with a volume of 3,528,936 shares traded.

Analyst Upgrades and Downgrades

HIMS has been the topic of several research analyst reports. TD Cowen restated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Piper Sandler reissued a “neutral” rating and set a $21.00 price objective (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Morgan Stanley began coverage on Hims & Hers Health in a research report on Tuesday. They issued an “overweight” rating and a $42.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Canaccord Genuity Group boosted their target price on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.80.

Hims & Hers Health Trading Down 8.3 %

The stock has a market cap of $6.24 billion, a P/E ratio of 64.89 and a beta of 1.25. The business has a 50-day simple moving average of $25.46 and a 200 day simple moving average of $21.19.

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

Insider Activity

In related news, CFO Oluyemi Okupe sold 269,739 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the transaction, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total value of $68,932.24. Following the sale, the insider now owns 184,947 shares in the company, valued at approximately $6,206,821.32. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,143,575 shares of company stock worth $27,724,979 over the last 90 days. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently bought and sold shares of HIMS. Renaissance Technologies LLC grew its holdings in shares of Hims & Hers Health by 113.1% during the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after purchasing an additional 3,205,108 shares in the last quarter. Wellington Management Group LLP grew its position in Hims & Hers Health by 34.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after acquiring an additional 883,230 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Hims & Hers Health by 12.7% in the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after buying an additional 482,177 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Hims & Hers Health by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after acquiring an additional 328,142 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Hims & Hers Health by 177.8% in the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after buying an additional 320,000 shares during the period. Institutional investors 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.