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

Hims & Hers Health, Inc. (NYSE:HIMS) gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. 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 traded.

The company reported $0.05 earnings per share (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 for the quarter, compared to analysts’ expectations of $270.37 million. During the same quarter in the prior year, the business earned ($0.05) EPS. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Imperial Capital raised Hims & Hers Health from an “in-line” rating to an “outperform” rating and set a $16.00 price target on the stock in a report on Wednesday, February 28th. Leerink Partnrs reissued a “market perform” rating on shares of Hims & Hers Health in a research report on Monday, February 26th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Hims & Hers Health in a research report on Friday, April 26th. Guggenheim increased their price objective on shares of Hims & Hers Health from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler boosted their target price 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. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.07.

Insiders Place Their Bets

In other Hims & Hers Health news, CEO Andrew Dudum sold 97,208 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $9.58, for a total transaction of $931,252.64. Following the sale, the chief executive officer now directly owns 51,653 shares in the company, valued at $494,835.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Melissa Baird sold 11,750 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.08, for a total transaction of $141,940.00. Following the transaction, the chief operating officer now directly owns 538,932 shares in the company, valued at approximately $6,510,298.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 97,208 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $9.58, for a total transaction of $931,252.64. Following the completion of the sale, the chief executive officer now directly owns 51,653 shares in the company, valued at $494,835.74. The disclosure for this sale can be found here. Insiders sold 736,191 shares of company stock valued at $9,733,700 in the last three months. Corporate insiders own 31.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HIMS. Vanguard Group Inc. lifted its stake in shares of Hims & Hers Health by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 14,173,285 shares of the company’s stock worth $126,142,000 after acquiring an additional 46,541 shares during the last quarter. Forerunner Ventures Management LLC bought a new stake in shares of Hims & Hers Health during the fourth quarter worth $86,836,000. Dimensional Fund Advisors LP boosted its stake in shares of Hims & Hers Health by 9.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,147,927 shares of the company’s stock valued at $19,117,000 after purchasing an additional 193,507 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Hims & Hers Health by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,294,759 shares of the company’s stock worth $11,523,000 after purchasing an additional 22,009 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in 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 buying an additional 287,552 shares during the period. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Trading Up 6.1 %

The company has a market capitalization of $2.65 billion, a PE ratio of -112.36 and a beta of 0.97. The firm’s 50-day simple moving average is $14.04 and its 200-day simple moving average is $10.35.

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.