Hims & Hers Health (NYSE:HIMS) Shares Gap Up – Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $56.77, but opened at $61.60. Hims & Hers Health shares last traded at $58.64, with a volume of 42,966,214 shares changing hands.

Wall Street Analyst Weigh In

HIMS has been the subject of several analyst reports. Bank of America lifted their price objective on shares of Hims & Hers Health from $22.00 to $26.00 and gave the company an “underperform” rating in a research note on Tuesday, April 29th. Needham & Company LLC boosted their price objective on shares of Hims & Hers Health from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup restated a “sell” rating and issued a $30.00 price objective (up from $25.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.00.

Hims & Hers Health Trading Down 1.7%

The stock has a market cap of $12.04 billion, a P/E ratio of 122.23 and a beta of 2.09. The company’s fifty day simple moving average is $41.26 and its 200-day simple moving average is $36.68.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business’s revenue for the quarter was up 110.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 11,581 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $52.98, for a total value of $613,561.38. Following the sale, the chief financial officer now owns 39,153 shares of the company’s stock, valued at approximately $2,074,325.94. This represents a 22.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Irene Becklund sold 2,203 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $28.78, for a total transaction of $63,402.34. Following the completion of the sale, the insider now directly owns 8,007 shares in the company, valued at approximately $230,441.46. The trade was a 21.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 617,367 shares of company stock valued at $25,227,888. 13.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC acquired a new position in Hims & Hers Health during the 4th quarter worth about $28,000. Blume Capital Management Inc. lifted its position in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 600 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Hims & Hers Health during the 1st quarter worth about $30,000. Smartleaf Asset Management LLC lifted its position in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after buying an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Hims & Hers Health during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.