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

Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Wednesday . The stock had previously closed at $26.69, but opened at $29.12. Hims & Hers Health shares last traded at $29.91, with a volume of 4,641,419 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HIMS shares. Truist Financial boosted 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. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price objective (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.21.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $4.48 billion, a PE ratio of 47.38 and a beta of 1.06. The business has a 50 day moving average of $19.51 and a two-hundred day moving average of $18.77.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The firm had revenue of $401.56 million during 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 firm’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. On average, equities analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 269,739 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the sale, the chief financial officer now directly owns 145,763 shares in the company, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 2,339 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total value of $38,593.50. Following the completion of the sale, the insider now owns 176,952 shares of the company’s stock, valued at approximately $2,919,708. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 996,961 shares of company stock worth $20,256,416 in the last three months. 17.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Hims & Hers Health by 1.0% in the first quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock valued at $221,379,000 after buying an additional 136,907 shares during the last quarter. Renaissance Technologies LLC raised its stake in Hims & Hers Health by 113.1% in the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after buying an additional 3,205,108 shares during the last quarter. Farallon Capital Management LLC raised its stake in Hims & Hers Health by 3,890.5% in the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after buying an additional 1,634,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hims & Hers Health by 15.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock valued at $30,714,000 after buying an additional 218,566 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Hims & Hers Health by 67.5% in the second quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company’s stock valued at $13,701,000 after buying an additional 273,473 shares during the last quarter. 63.52% of the stock is currently 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.