Hims & Hers Health (NYSE:HIMS) Shares Gap Up – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HIMS shares. Canaccord Genuity Group upped their price target on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley started coverage on Hims & Hers Health in a report on Tuesday. They set an “overweight” rating and a $42.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. Finally, Piper Sandler reissued a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.80.

Hims & Hers Health Stock Performance

The company has a market capitalization of $6.24 billion, a PE ratio of 64.89 and a beta of 1.25. The stock’s fifty day simple moving average is $25.46 and its 200-day simple moving average is $21.19.

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

Insider Activity at Hims & Hers Health

In other news, CEO Andrew Dudum sold 78,127 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $29.62, for a total value of $2,314,121.74. Following the transaction, the chief executive officer now owns 109,956 shares in the company, valued at $3,256,896.72. This represents a 41.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Soleil Boughton sold 2,339 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $20.41, for a total transaction of $47,738.99. Following the sale, the insider now owns 172,274 shares of the company’s stock, valued at approximately $3,516,112.34. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,143,575 shares of company stock worth $27,724,979 in the last 90 days. 17.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in Hims & Hers Health by 113.1% in the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after buying an additional 3,205,108 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 purchasing an additional 883,230 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after purchasing an additional 482,177 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Hims & Hers Health by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after purchasing an additional 328,142 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Hims & Hers Health by 177.8% in the second quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after purchasing an additional 320,000 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.