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

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $19.14, but opened at $19.78. Hims & Hers Health shares last traded at $20.2130, with a volume of 4,004,910 shares changing hands.

Wall Street Analysts Forecast Growth

HIMS has been the subject of several research analyst reports. Needham & Company LLC upgraded Hims & Hers Health from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hims & Hers Health in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hims & Hers Health from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, March 10th. Bank of America upgraded shares of Hims & Hers Health from an “underperform” rating to a “neutral” rating and raised their price target for the company from $12.50 to $23.00 in a report on Tuesday, March 10th. Finally, TD Cowen reduced their price target on shares of Hims & Hers Health from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and an average target price of $31.71.

Hims & Hers Health Trading Up 5.7%

The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 39.72, a price-to-earnings-growth ratio of 2.31 and a beta of 2.32. The company has a quick ratio of 1.70, a current ratio of 1.90 and a debt-to-equity ratio of 1.80. The business has a 50 day moving average price of $20.67 and a 200-day moving average price of $34.54.

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

Insider Transactions at Hims & Hers Health

In related news, insider Irene Becklund sold 5,529 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total transaction of $136,511.01. Following the completion of the sale, the insider owned 8,752 shares of the company’s stock, valued at $216,086.88. This represents a 38.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Chi sold 97,289 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total value of $2,402,065.41. Following the completion of the transaction, the chief operating officer owned 407,282 shares of the company’s stock, valued at approximately $10,055,792.58. The trade was a 19.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 125,914 shares of company stock valued at $3,151,566. 13.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new position in shares of Hims & Hers Health during the third quarter valued at $28,000. Binnacle Investments Inc bought a new position in Hims & Hers Health in the 3rd quarter worth about $28,000. Hilltop National Bank acquired a new stake in shares of Hims & Hers Health in the third quarter valued at approximately $35,000. Silicon Valley Capital Partners bought a new stake in shares of Hims & Hers Health during the third quarter valued at approximately $48,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Hims & Hers Health during the fourth quarter worth approximately $28,000. 63.52% of the stock is currently owned by institutional investors.

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.