Hims & Hers Health (NYSE:HIMS) Shares Gap Up After Earnings Beat

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.76, but opened at $22.08. Hims & Hers Health shares last traded at $20.72, with a volume of 8,631,906 shares traded.

The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 11.67%. The business had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. Hims & Hers Health’s revenue was up 77.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HIMS. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. TD Cowen boosted their price target on Hims & Hers Health from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. 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 objective on the stock. Truist Financial lifted their target price on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Finally, Canaccord Genuity Group increased their target price on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hims & Hers Health presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity

In other Hims & Hers Health news, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $23.16, for a total value of $54,171.24. Following the sale, the insider now owns 169,935 shares in the company, valued at approximately $3,935,694.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total transaction of $2,750,209.28. Following the completion of the transaction, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $487,789.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total transaction of $54,171.24. Following the sale, the insider now directly owns 169,935 shares in the company, valued at $3,935,694.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,659 shares of company stock valued at $11,712,198. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in shares of Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after acquiring an additional 1,603 shares in the last quarter. Quest Partners LLC increased its stake in Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after purchasing an additional 3,507 shares in the last quarter. CWM LLC increased its stake in Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Hims & Hers Health during the second quarter valued at about $111,000. Finally, Amalgamated Bank boosted its position in shares of Hims & Hers Health by 55.9% during the 2nd quarter. Amalgamated Bank now owns 6,566 shares of the company’s stock worth $133,000 after purchasing an additional 2,354 shares in the last quarter. 63.52% of the stock is owned by institutional investors.

Hims & Hers Health Stock Performance

The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 53.27 and a beta of 1.06. The company has a 50 day moving average price of $18.22 and a 200 day moving average price of $18.26.

Hims & Hers Health Company Profile

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.