Hims & Hers Health (NYSE:HIMS) Trading 8.4% Higher – Time to Buy?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price shot up 8.4% during trading on Monday . The stock traded as high as $29.75 and last traded at $30.0910. Approximately 1,692,662 shares were traded during mid-day trading, a decline of 94% from the average session volume of 27,293,625 shares. The stock had previously closed at $27.77.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HIMS shares. Zacks Research upgraded shares of Hims & Hers Health from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Barclays boosted their price objective on shares of Hims & Hers Health from $29.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. BTIG Research reaffirmed a “neutral” rating on shares of Hims & Hers Health in a research report on Tuesday, May 12th. Citigroup lifted their price target on Hims & Hers Health from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Hims & Hers Health from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.43.

Hims & Hers Health Stock Performance

The company has a current ratio of 1.69, a quick ratio of 1.56 and a debt-to-equity ratio of 2.18. The firm has a 50-day moving average of $31.54 and a 200-day moving average of $26.07. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of -356.44, a P/E/G ratio of 86.74 and a beta of 2.40.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.44). The firm had revenue of $608.10 million for the quarter, compared to analyst estimates of $616.84 million. Hims & Hers Health had a positive return on equity of 6.10% and a negative net margin of 0.56%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.03 earnings per share for the current year.

Insider Activity

In related news, insider Irene Becklund sold 4,490 shares of Hims & Hers Health stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total transaction of $141,435.00. Following the completion of the sale, the insider owned 6,790 shares of the company’s stock, 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 through 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, insider Patrick Harrison Carroll sold 23,726 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.00, for a total transaction of $830,410.00. Following the completion of the transaction, the insider owned 181,861 shares in the company, valued at approximately $6,365,135. This trade represents a 11.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 83,126 shares of company stock valued at $2,711,339. 11.76% of the stock is owned by insiders.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMS. Versant Capital Management Inc raised its holdings in shares of Hims & Hers Health by 801.2% during the second quarter. Versant Capital Management Inc now owns 748 shares of the company’s stock worth $26,000 after purchasing an additional 665 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Hims & Hers Health by 70.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 775 shares of the company’s stock valued at $27,000 after purchasing an additional 319 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Hims & Hers Health during the 4th quarter worth about $28,000. Binnacle Investments Inc acquired a new stake in Hims & Hers Health during the 3rd quarter worth about $28,000. Finally, Bogart Wealth LLC raised its stake in shares of Hims & Hers Health by 235.8% during the 4th quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 632 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.