Hims & Hers Health (NYSE:HIMS) Sees Strong Trading Volume on Earnings Beat

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 4,721,013 shares traded hands during mid-day trading, a decline of 2% from the previous session’s volume of 4,811,649 shares.The stock last traded at $13.13 and had previously closed at $11.65.

The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $278.20 million for the quarter, compared to analyst estimates of $270.37 million. Hims & Hers Health had a negative net margin of 2.70% and a negative return on equity of 7.21%. The business’s revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HIMS. Piper Sandler upped their price objective on Hims & Hers Health from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Hims & Hers Health from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday. Imperial Capital upgraded shares of Hims & Hers Health from an “in-line” rating to an “outperform” rating and set a $16.00 price objective for the company in a research note on Wednesday, February 28th. Seaport Res Ptn restated a “buy” rating on shares of Hims & Hers Health in a research report on Friday, April 26th. Finally, Canaccord Genuity Group started coverage on shares of Hims & Hers Health in a report on Wednesday, April 10th. They issued a “buy” rating and a $20.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Hims & Hers Health has a consensus rating of “Moderate Buy” and a consensus target price of $15.07.

Insider Buying and Selling at Hims & Hers Health

In other news, CEO Andrew Dudum sold 50,361 shares of Hims & Hers Health stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $16.34, for a total transaction of $822,898.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Melissa Baird sold 11,750 shares of Hims & Hers Health stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.08, for a total value of $141,940.00. Following the completion of the sale, the chief operating officer now owns 538,932 shares of the company’s stock, valued at $6,510,298.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Dudum sold 50,361 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $16.34, for a total value of $822,898.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 736,191 shares of company stock worth $9,733,700. Corporate insiders own 31.63% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMS. Entropy Technologies LP purchased a new position in shares of Hims & Hers Health during the 1st quarter worth about $1,386,000. ProShare Advisors LLC grew its holdings in Hims & Hers Health by 10.0% in the first quarter. ProShare Advisors LLC now owns 22,257 shares of the company’s stock valued at $344,000 after purchasing an additional 2,023 shares during the period. Avantax Advisory Services Inc. acquired a new position in Hims & Hers Health during the first quarter worth approximately $156,000. Headlands Technologies LLC purchased a new position in Hims & Hers Health during the first quarter worth approximately $228,000. Finally, Sei Investments Co. boosted its holdings in shares of Hims & Hers Health by 206.9% in the 1st quarter. Sei Investments Co. now owns 56,202 shares of the company’s stock valued at $869,000 after purchasing an additional 37,890 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

The stock’s fifty day simple moving average is $14.01 and its two-hundred day simple moving average is $10.39. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -107.91 and a beta of 0.97.

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.