Hims & Hers Health (NYSE:HIMS) Shares Gap Up Following Strong Earnings

Hims & Hers Health, Inc. (NYSE:HIMS) shares gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $11.26, but opened at $11.80. Hims & Hers Health shares last traded at $11.68, with a volume of 3,705,664 shares changing hands.

The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company 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 firm’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS.

Analyst Ratings Changes

A number of brokerages recently weighed in on HIMS. Leerink Partnrs restated a “market perform” rating on shares of Hims & Hers Health in a research report on Monday, February 26th. Piper Sandler lifted their price target on shares of Hims & Hers Health from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday. SVB Leerink assumed coverage on Hims & Hers Health in a report on Monday, February 26th. They issued a “market perform” rating and a $10.00 price objective for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $15.00 target price (down from $17.00) on shares of Hims & Hers Health in a report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Hims & Hers Health from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health presently has an average rating of “Moderate Buy” and a consensus target price of $15.07.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 2,503 shares of Hims & Hers Health stock in a transaction on Monday, April 1st. The shares were sold at an average price of $15.65, for a total value of $39,171.95. Following the completion of the sale, the insider now directly owns 166,866 shares of the company’s stock, valued at $2,611,452.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hims & Hers Health news, insider Soleil Boughton sold 2,503 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $15.65, for a total value of $39,171.95. Following the completion of the sale, the insider now owns 166,866 shares of the company’s stock, valued at $2,611,452.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Oluyemi Okupe sold 31,363 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $10.03, for a total value of $314,570.89. Following the transaction, the chief financial officer now directly owns 156,721 shares in the company, valued at $1,571,911.63. The disclosure for this sale can be found here. Insiders sold a total of 736,191 shares of company stock valued at $9,733,700 in the last quarter. 31.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Forerunner Ventures Management LLC purchased a new stake in shares of Hims & Hers Health in the fourth quarter worth approximately $86,836,000. Vanguard Group Inc. lifted its stake in Hims & Hers Health by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,126,744 shares of the company’s stock valued at $88,857,000 after acquiring an additional 428,671 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Hims & Hers Health by 39.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,272,750 shares of the company’s stock worth $8,006,000 after acquiring an additional 357,590 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Hims & Hers Health by 38.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,032,452 shares of the company’s stock worth $6,494,000 after acquiring an additional 287,552 shares in the last quarter. Finally, Must Asset Management Inc. purchased a new stake in shares of Hims & Hers Health in the third quarter valued at about $1,596,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Stock Up 6.1 %

The business’s 50-day moving average is $14.04 and its two-hundred day moving average is $10.35. The company has a market capitalization of $2.65 billion, a P/E ratio of -112.36 and a beta of 0.97.

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.