Hims & Hers Health (NYSE:HIMS) Stock Price Up 7.3% – Here’s Why

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group set a $32.00 price target on shares of Hims & Hers Health in a research note on Tuesday, May 12th. Citigroup increased their price objective on shares of Hims & Hers Health from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. UBS Group set a $23.00 target price on shares of Hims & Hers Health in a research report on Friday, May 22nd. Zacks Research cut shares of Hims & Hers Health from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Finally, Jefferies Financial Group set a $24.50 price target on shares of Hims & Hers Health in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.37.

Hims & Hers Health Trading Up 5.1%

The company’s 50-day moving average is $27.75 and its 200-day moving average is $26.41. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of -383.37, a PEG ratio of 46.74 and a beta of 2.37. The company has a quick ratio of 1.56, a current ratio of 1.69 and a debt-to-equity ratio of 2.18.

Hims & Hers Health (NYSE:HIMS) last posted its 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). Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The company had revenue of $608.10 million during the quarter, compared to analyst estimates of $616.84 million. During the same period in the previous year, the company earned $0.20 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that Hims & Hers Health, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, Director David B. Wells purchased 48,400 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $24.23 per share, with a total value of $1,172,732.00. Following the acquisition, the director directly owned 224,417 shares of the company’s stock, valued at approximately $5,437,623.91. This represents a 27.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Chi sold 14,027 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $31.50, for a total transaction of $441,850.50. Following the completion of the transaction, the chief operating officer directly owned 432,124 shares in the company, valued at $13,611,906. This trade represents a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders sold 163,973 shares of company stock worth $4,859,194. 11.76% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently made changes to their positions in the company. Farallon Capital Management LLC increased its position in shares of Hims & Hers Health by 30.8% in the third quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company’s stock valued at $609,561,000 after buying an additional 2,533,271 shares in the last quarter. SG Americas Securities LLC grew its stake in Hims & Hers Health by 25.6% in the 4th quarter. SG Americas Securities LLC now owns 371,553 shares of the company’s stock worth $12,064,000 after acquiring an additional 75,679 shares during the period. Vanguard Group Inc. grew its position in shares of Hims & Hers Health by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 20,925,666 shares of the company’s stock valued at $679,456,000 after purchasing an additional 1,407,651 shares during the period. CI Investments Inc. boosted its stake in Hims & Hers Health by 6,659.7% in the 3rd quarter. CI Investments Inc. now owns 206,510 shares of the company’s stock worth $11,713,000 after buying an additional 203,455 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Hims & Hers Health in the fourth quarter valued at approximately $11,187,000. 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.