Hims & Hers Health (NYSE:HIMS) Trading Up 8.5% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS) shot up 8.5% during mid-day trading on Thursday . The stock traded as high as $35.65 and last traded at $34.3880. 10,446,274 shares changed hands during trading, a decline of 62% from the average session volume of 27,624,584 shares. The stock had previously closed at $31.68.

Analyst Ratings Changes

Several brokerages recently issued reports on HIMS. Weiss Ratings downgraded shares of Hims & Hers Health from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday, May 12th. Bank of America increased their price target on Hims & Hers Health from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. dropped their price objective on shares of Hims & Hers Health from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Canaccord Genuity Group increased their price target on shares of Hims & Hers Health from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen downgraded Hims & Hers Health from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.70.

Hims & Hers Health Trading Up 5.4%

The stock has a market capitalization of $7.73 billion, a P/E ratio of -371.39, a P/E/G ratio of 92.11 and a beta of 2.35. 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 business has a 50-day moving average price of $30.52 and a two-hundred day moving average price of $26.34.

Hims & Hers Health (NYSE:HIMS) last posted 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). 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 last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that Hims & Hers Health, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Hims & Hers Health news, COO Michael Chi sold 14,027 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total value of $441,850.50. Following the sale, the chief operating officer owned 432,124 shares of the company’s stock, valued at approximately $13,611,906. This trade represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.00, for a total value of $830,410.00. Following the sale, the insider owned 181,861 shares of the company’s stock, valued at approximately $6,365,135. This represents a 11.54% 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. Over the last ninety days, insiders sold 83,126 shares of company stock valued at $2,711,339. Corporate insiders own 11.76% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Hims & Hers Health by 194.4% during the 1st quarter. Bank of America Corp DE now owns 4,357,672 shares of the company’s stock valued at $90,465,000 after purchasing an additional 2,877,550 shares during the period. Norges Bank acquired a new stake in shares of Hims & Hers Health during the fourth quarter worth $62,153,000. Invesco Ltd. raised its stake in Hims & Hers Health by 62.7% during the third quarter. Invesco Ltd. now owns 4,152,409 shares of the company’s stock worth $235,525,000 after buying an additional 1,600,004 shares during the last quarter. Marex Group plc lifted its holdings in Hims & Hers Health by 162.2% in the fourth quarter. Marex Group plc now owns 2,419,518 shares of the company’s stock valued at $78,562,000 after buying an additional 1,496,707 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in 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 buying an additional 1,407,651 shares during the period. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.