Hims & Hers Health (NYSE:HIMS) Trading Up 9.1% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price shot up 9.1% on Monday . The stock traded as high as $30.26 and last traded at $31.4450. 8,007,011 shares were traded during mid-day trading, a decline of 76% from the average session volume of 33,270,902 shares. The stock had previously closed at $28.82.

Analyst Ratings Changes

HIMS has been the topic of a number of analyst reports. Leerink Partners increased their target price on shares of Hims & Hers Health from $17.50 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, March 16th. Evercore set a $24.00 price target on shares of Hims & Hers Health in a research report on Tuesday, February 24th. Barclays boosted their price target on Hims & Hers Health from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Truist Financial reissued a “hold” rating and set a $18.00 price target (down from $37.00) on shares of Hims & Hers Health in a research report on Tuesday, February 24th. Finally, BTIG Research lowered Hims & Hers Health from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.86.

Hims & Hers Health Price Performance

The firm has a market cap of $7.08 billion, a P/E ratio of 60.84, a PEG ratio of 2.74 and a beta of 2.32. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.90 and a quick ratio of 1.70. The company’s 50-day moving average is $19.72 and its two-hundred day moving average is $32.11.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, February 23rd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.02 by $0.06. Hims & Hers Health had a net margin of 5.47% and a return on equity of 22.48%. The firm had revenue of $617.82 million for the quarter, compared to analyst estimates of $619.48 million. During the same period last year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. Sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity

In other news, COO Michael Chi sold 97,289 shares of Hims & Hers Health stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $24.69, for a total value of $2,402,065.41. Following the transaction, the chief operating officer owned 407,282 shares in the company, valued at approximately $10,055,792.58. This trade represents a 19.28% 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 4,812 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $24.69, for a total value of $118,808.28. Following the transaction, the insider directly owned 308,831 shares of the company’s stock, valued at $7,625,037.39. This trade represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 129,889 shares of company stock valued at $3,230,986 in the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quent Capital LLC acquired a new stake in shares of Hims & Hers Health in the 3rd quarter valued at approximately $28,000. Binnacle Investments Inc acquired a new position in Hims & Hers Health during the 3rd quarter worth approximately $28,000. Silicon Valley Capital Partners bought a new position in Hims & Hers Health in the 3rd quarter valued at approximately $48,000. Flagship Harbor Advisors LLC bought a new position in Hims & Hers Health in the 4th quarter valued at approximately $28,000. Finally, Bogart Wealth LLC boosted its position in Hims & Hers Health by 235.8% in the fourth quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 632 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients’ doorsteps.

The company’s product portfolio addresses key areas of men’s and women’s health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.