Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase on Earnings Beat

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 4,721,013 shares changed hands during 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 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative net margin of 2.70% and a negative return on equity of 7.21%. The business had revenue of $278.20 million during the quarter, compared to the consensus estimate of $270.37 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was up 45.8% on a year-over-year basis.

Analysts Set New Price Targets

HIMS has been the topic of a number of research analyst reports. TheStreet upgraded Hims & Hers Health from a “d” rating to a “c” rating in a report on Monday, March 4th. Truist Financial lifted their target price on Hims & Hers Health from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft increased 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 report on Tuesday. Piper Sandler boosted their price objective on shares of Hims & Hers Health from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, SVB Leerink assumed coverage on shares of Hims & Hers Health in a research report on Monday, February 26th. They issued a “market perform” rating and a $10.00 target price for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.07.

Insider Activity

In related news, COO Melissa Baird sold 11,750 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were 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 directly owns 538,932 shares in the company, valued at $6,510,298.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $14.97, for a total transaction of $2,827,653.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Melissa Baird sold 11,750 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.08, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 736,191 shares of company stock worth $9,733,700. 31.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of Hims & Hers Health in the fourth quarter valued at about $48,000. Avantax Advisory Services Inc. acquired a new stake in Hims & Hers Health in the 1st quarter valued at approximately $156,000. Cornerstone Investment Partners LLC acquired a new stake in Hims & Hers Health in the 1st quarter valued at approximately $161,000. EMC Capital Management increased its position in Hims & Hers Health by 80.0% in the 3rd quarter. EMC Capital Management now owns 12,000 shares of the company’s stock worth $79,000 after buying an additional 5,332 shares during the period. Finally, Belpointe Asset Management LLC acquired a new position in shares of Hims & Hers Health during the third quarter worth approximately $76,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Stock Down 1.5 %

The firm has a 50-day moving average price of $14.01 and a two-hundred day moving average price of $10.39. The company has a market capitalization of $2.61 billion, a P/E ratio of -107.91 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.