Hims & Hers Health (NYSE:HIMS) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Tuesday following a better than expected earnings announcement. 4,721,013 shares traded 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Hims & Hers Health had a negative return on equity of 7.21% and a negative net margin of 2.70%. The business had revenue of $278.20 million for the quarter, compared to the consensus estimate of $270.37 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 45.8% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities analysts have recently commented on HIMS shares. Canaccord Genuity Group assumed coverage on Hims & Hers Health in a research note on Wednesday, April 10th. They issued a “buy” rating and a $20.00 price target on the stock. TheStreet upgraded Hims & Hers Health from a “d” rating to a “c” rating in a report on Monday, March 4th. Jefferies Financial Group reiterated a “hold” rating and set a $15.00 price objective (down previously from $17.00) on shares of Hims & Hers Health in a research report on Tuesday, April 16th. Guggenheim lifted their price target on Hims & Hers Health from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Hims & Hers Health in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Hims & Hers Health presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Insiders Place Their Bets

In other news, insider Soleil Boughton sold 4,080 shares of Hims & Hers Health stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $10.03, for a total transaction of $40,922.40. Following the completion of the sale, the insider now owns 154,345 shares in the company, valued at approximately $1,548,080.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Soleil Boughton sold 4,080 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $10.03, for a total transaction of $40,922.40. Following the completion of the transaction, the insider now directly owns 154,345 shares of the company’s stock, valued at approximately $1,548,080.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $822,898.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 736,191 shares of company stock valued at $9,733,700. 31.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Graham Capital Management L.P. lifted its holdings in shares of Hims & Hers Health by 39.4% during the third quarter. Graham Capital Management L.P. now owns 340,338 shares of the company’s stock worth $2,141,000 after purchasing an additional 96,277 shares during the period. Swiss National Bank increased its position in shares of Hims & Hers Health by 9.2% during the third quarter. Swiss National Bank now owns 309,200 shares of the company’s stock worth $1,945,000 after acquiring an additional 26,100 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hims & Hers Health by 3.1% in the third quarter. Vanguard Group Inc. now owns 14,126,744 shares of the company’s stock valued at $88,857,000 after purchasing an additional 428,671 shares in the last quarter. Bank of New York Mellon Corp raised its position in Hims & Hers Health by 11.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 564,501 shares of the company’s stock valued at $3,551,000 after buying an additional 58,288 shares during the last quarter. Finally, Must Asset Management Inc. bought a new stake in shares of Hims & Hers Health in the 3rd quarter worth $1,596,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Trading Up 7.0 %

The company’s 50-day simple moving average is $14.01 and its 200 day simple moving average is $10.31. The stock has a market cap of $2.67 billion, a P/E ratio of -114.91 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.