Hims & Hers Health (NYSE:HIMS) Stock Price Up 10.5% – Should You Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price shot up 10.5% on Monday . The company traded as high as $15.90 and last traded at $16.0420. 16,304,976 shares were traded during mid-day trading, a decline of 42% from the average session volume of 28,091,414 shares. The stock had previously closed at $14.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group set a $32.00 target price on Hims & Hers Health in a report on Tuesday, November 4th. TD Cowen cut their price target on shares of Hims & Hers Health from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft set a $31.00 price objective on shares of Hims & Hers Health and gave the company a “hold” rating in a research note on Tuesday, February 10th. Morgan Stanley decreased their price objective on shares of Hims & Hers Health from $40.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Finally, Truist Financial restated a “hold” rating and set a $18.00 target price (down from $37.00) on shares of Hims & Hers Health in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $32.27.

Hims & Hers Health Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $3.75 billion, a PE ratio of 32.28, a PEG ratio of 2.78 and a beta of 2.56. The stock’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $39.06.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, February 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $617.82 million for the quarter, compared to analyst estimates of $619.48 million. Hims & Hers Health had a return on equity of 22.48% and a net margin of 5.47%.Hims & Hers Health’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Hims & Hers Health declared that its board has initiated a share buyback plan on Monday, November 17th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, COO Michael Chi sold 13,750 shares of Hims & Hers Health stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $36.71, for a total value of $504,762.50. Following the completion of the sale, the chief operating officer directly owned 305,161 shares of the company’s stock, valued at approximately $11,202,460.31. The trade was a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Oluyemi Okupe sold 9,067 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $30.34, for a total value of $275,092.78. Following the transaction, the chief financial officer directly owned 91,617 shares in the company, valued at approximately $2,779,659.78. This represents a 9.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,963 shares of company stock worth $2,944,621 over the last three months. Company insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Institutional investors have recently added to or reduced their stakes in the business. Farallon Capital Management LLC boosted its stake in Hims & Hers Health by 30.8% in the 3rd quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company’s stock worth $609,561,000 after buying an additional 2,533,271 shares during the last quarter. Invesco Ltd. boosted its position in shares of Hims & Hers Health by 502.2% in the second quarter. Invesco Ltd. now owns 2,552,405 shares of the company’s stock worth $127,237,000 after acquiring an additional 2,128,587 shares during the last quarter. Norges Bank acquired a new stake in shares of Hims & Hers Health in the fourth quarter worth approximately $62,153,000. Clear Street LLC purchased a new stake in Hims & Hers Health in the second quarter valued at approximately $83,582,000. Finally, Clear Street Group Inc. acquired a new position in Hims & Hers Health during the third quarter worth approximately $87,372,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Company Profile

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.