Hims & Hers Health (NYSE:HIMS) Shares Up 7.3% – Still a Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 7.3% on Friday . The company traded as high as $34.61 and last traded at $35.0930. Approximately 2,821,514 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 29,748,619 shares. The stock had previously closed at $32.71.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays raised their target price on shares of Hims & Hers Health from $29.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. UBS Group set a $23.00 price objective on shares of Hims & Hers Health in a research note on Friday, May 22nd. Canaccord Genuity Group set a $32.00 price objective on shares of Hims & Hers Health in a research note on Tuesday, May 12th. Weiss Ratings cut Hims & Hers Health from a “hold (c)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. Finally, TD Cowen reduced their price target on Hims & Hers Health from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.37.

Hims & Hers Health Stock Performance

The firm has a market cap of $7.96 billion, a price-to-earnings ratio of -383.37, a P/E/G ratio of 46.74 and a beta of 2.37. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.69 and a quick ratio of 1.56. The firm has a fifty day simple moving average of $27.75 and a two-hundred day simple moving average of $26.41.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, May 11th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.44). Hims & Hers Health had a positive return on equity of 6.10% and a negative net margin of 0.56%.The company had revenue of $608.10 million for the quarter, compared to analysts’ expectations of $616.84 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts expect that Hims & Hers Health, Inc. will post 0.05 EPS for the current year.

Insider Activity at Hims & Hers Health

In related news, insider Irene Becklund sold 4,490 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $31.50, for a total transaction of $141,435.00. Following the completion of the transaction, the insider directly owned 6,790 shares in the company, valued at $213,885. The trade was a 39.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Michael Chi sold 14,027 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total value of $441,850.50. Following the sale, the chief operating officer directly owned 432,124 shares in the company, valued at $13,611,906. This represents a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 163,973 shares of company stock worth $4,859,194 in the last quarter. 11.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Hims & Hers Health by 23.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 418,699 shares of the company’s stock worth $12,373,000 after acquiring an additional 78,543 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Hims & Hers Health in the 1st quarter worth about $30,000. EverSource Wealth Advisors LLC raised its holdings in Hims & Hers Health by 273.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 938 shares of the company’s stock worth $47,000 after purchasing an additional 687 shares during the period. Amundi boosted its position in Hims & Hers Health by 5.3% during the second quarter. Amundi now owns 10,296 shares of the company’s stock worth $489,000 after purchasing an additional 522 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Hims & Hers Health by 9.5% during the second quarter. California Public Employees Retirement System now owns 338,620 shares of the company’s stock worth $16,880,000 after purchasing an additional 29,471 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.