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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $11.26, but opened at $11.80. Hims & Hers Health shares last traded at $11.68, with a volume of 3,705,664 shares trading hands.

The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $270.37 million. Hims & Hers Health had a negative net margin of 2.70% and a negative return on equity of 7.21%. The company’s revenue was up 45.8% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Hims & Hers Health from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 target price (down from $17.00) on shares of Hims & Hers Health in a research note on Tuesday, April 16th. Guggenheim upped their price target on shares of Hims & Hers Health from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Imperial Capital upgraded shares of Hims & Hers Health from an “in-line” rating to an “outperform” rating and set a $16.00 price objective for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler boosted their price objective on shares of Hims & Hers Health from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.07.

Insiders Place Their Bets

In related news, COO Melissa Baird sold 11,750 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.08, for a total transaction of $141,940.00. Following the sale, the chief operating officer now directly owns 538,932 shares of the company’s stock, valued at $6,510,298.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $12.54, for a total value of $2,368,655.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Melissa Baird sold 11,750 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.08, for a total value of $141,940.00. Following the transaction, the chief operating officer now directly owns 538,932 shares of the company’s stock, valued at $6,510,298.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 736,191 shares of company stock valued at $9,733,700. 31.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMS. Vanguard Group Inc. raised its stake in Hims & Hers Health by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 14,173,285 shares of the company’s stock valued at $126,142,000 after purchasing an additional 46,541 shares during the last quarter. Forerunner Ventures Management LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter worth $86,836,000. Dimensional Fund Advisors LP lifted its stake in shares of Hims & Hers Health by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,147,927 shares of the company’s stock worth $19,117,000 after buying an additional 193,507 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Hims & Hers Health by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,294,759 shares of the company’s stock worth $11,523,000 after acquiring an additional 22,009 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Hims & Hers Health by 38.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,032,452 shares of the company’s stock valued at $6,494,000 after acquiring an additional 287,552 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Trading Up 6.1 %

The stock’s fifty day simple moving average is $14.04 and its 200 day simple moving average is $10.35. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -112.36 and a beta of 0.97.

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.