Hims & Hers Health (NYSE:HIMS) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Hims & Hers Health, Inc. (NYSE:HIMS) shares saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 4,721,013 shares traded hands during trading, a decline of 2% from the previous session’s volume of 4,811,649 shares.The stock last traded at $13.13 and had previously closed at $11.65.

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

Analysts Set New Price Targets

HIMS has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $15.00 target price (down from $17.00) on shares of Hims & Hers Health in a research report on Tuesday, April 16th. Guggenheim lifted 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 report on Tuesday, February 27th. Piper Sandler upped their price target on Hims & Hers Health from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday. Imperial Capital raised Hims & Hers Health from an “in-line” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Wednesday, February 28th. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Hims & Hers Health in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.07.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 4,080 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $10.03, for a total transaction of $40,922.40. Following the transaction, the insider now owns 154,345 shares of the company’s stock, valued at approximately $1,548,080.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Hims & Hers Health news, CEO Andrew Dudum sold 97,208 shares of Hims & Hers Health stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $9.58, for a total value of $931,252.64. Following the transaction, the chief executive officer now owns 51,653 shares in the company, valued at approximately $494,835.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 4,080 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $10.03, for a total value of $40,922.40. Following the sale, the insider now owns 154,345 shares of the company’s stock, valued at $1,548,080.35. The disclosure for this sale can be found here. Insiders have sold 736,191 shares of company stock valued at $9,733,700 in the last ninety days. Insiders own 31.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of 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 in the last quarter. Forerunner Ventures Management LLC acquired a new position in Hims & Hers Health during the fourth quarter valued at approximately $86,836,000. Dimensional Fund Advisors LP grew its stake in Hims & Hers Health by 9.9% during 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 during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hims & Hers Health by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,294,759 shares of the company’s stock valued at $11,523,000 after acquiring an additional 22,009 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of 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. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

The firm has a fifty day moving average of $14.04 and a 200-day moving average of $10.35. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -112.36 and a beta of 0.97.

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.