Hims & Hers Health (NYSE:HIMS) Reaches New 1-Year High – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) shares reached a new 52-week high on Wednesday . The stock traded as high as $35.02 and last traded at $34.77, with a volume of 5424326 shares changing hands. The stock had previously closed at $30.68.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HIMS shares. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Needham & Company LLC assumed coverage on Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price target on the stock. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, TD Cowen restated a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.71.

Hims & Hers Health Stock Performance

The company’s 50-day moving average price is $21.42 and its 200 day moving average price is $19.65. The stock has a market capitalization of $6.63 billion, a P/E ratio of 68.95 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period last year, the firm earned ($0.04) earnings per share. Analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 101,993 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $29.62, for a total transaction of $3,021,032.66. Following the completion of the transaction, the chief financial officer now directly owns 109,392 shares of the company’s stock, valued at approximately $3,240,191.04. This represents a 48.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Soleil Boughton sold 2,339 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total value of $38,593.50. Following the transaction, the insider now owns 176,952 shares of the company’s stock, valued at $2,919,708. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,153,519 shares of company stock valued at $24,486,721 in the last three months. 17.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after purchasing an additional 1,603 shares during the last quarter. Quest Partners LLC raised its position in shares of Hims & Hers Health by 5,944.1% during the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after buying an additional 3,507 shares in the last quarter. CWM LLC lifted its holdings in shares of Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after acquiring an additional 1,054 shares during the last quarter. Van ECK Associates Corp purchased a new position in Hims & Hers Health in the second quarter worth about $111,000. Finally, Quarry LP increased its stake in Hims & Hers Health by 91.0% during the third quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after acquiring an additional 2,913 shares during the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.