Hims & Hers Health (NYSE:HIMS) Stock Price Up 11.2% Following Strong Earnings

Hims & Hers Health, Inc. (NYSE:HIMS) shares shot up 11.2% during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $48.52 and last traded at $46.59. 75,568,287 shares were traded during mid-day trading, an increase of 337% from the average session volume of 17,274,388 shares. The stock had previously closed at $41.88.

The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $586.01 million for the quarter, compared to the consensus estimate of $535.21 million. During the same quarter in the prior year, the company posted $0.05 EPS. Hims & Hers Health’s quarterly revenue was up 110.7% on a year-over-year basis.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Hims & Hers Health from $60.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Bank of America increased their target price on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock an “underperform” rating in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $61.00 price target on shares of Hims & Hers Health in a research report on Tuesday. Citigroup reiterated a “sell” rating on shares of Hims & Hers Health in a research note on Tuesday. Finally, TD Cowen lowered Hims & Hers Health from a “buy” rating to a “hold” rating and lowered their target price for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.92.

Insider Transactions at Hims & Hers Health

In related news, CEO Andrew Dudum sold 128,127 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the completion of the transaction, the chief executive officer now owns 97,687 shares in the company, valued at $5,692,221.49. This trade represents a 56.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Melissa Baird sold 67,687 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $44.71, for a total value of $3,026,285.77. Following the sale, the chief operating officer now owns 706,872 shares in the company, valued at approximately $31,604,247.12. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 650,500 shares of company stock worth $25,790,311. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently modified their holdings of the stock. Farallon Capital Management LLC lifted its stake in shares of Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock valued at $202,556,000 after purchasing an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after acquiring an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after acquiring an additional 2,020,722 shares during the period. Yong Rong HK Asset Management Ltd purchased a new position in shares of Hims & Hers Health in the 4th quarter valued at about $41,104,000. Finally, Renaissance Technologies LLC boosted its position in Hims & Hers Health by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Up 11.6 %

The firm has a market capitalization of $10.39 billion, a PE ratio of 106.16 and a beta of 1.84. The stock has a 50-day moving average price of $32.22 and a 200 day moving average price of $31.70.

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.