FIGS (NYSE:FIGS) Given New $15.00 Price Target at Morgan Stanley

FIGS (NYSE:FIGS) had its price target hoisted by Morgan Stanley from $8.00 to $15.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

FIGS has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of FIGS in a report on Friday. KeyCorp raised FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a report on Friday, February 27th. Oppenheimer raised FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, March 20th. BTIG Research reissued a “buy” rating and issued a $15.00 price target on shares of FIGS in a report on Friday, February 27th. Finally, Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, FIGS currently has a consensus rating of “Moderate Buy” and an average target price of $14.93.

FIGS Stock Up 2.0%

NYSE FIGS opened at $14.51 on Monday. FIGS has a fifty-two week low of $3.77 and a fifty-two week high of $17.48. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 76.35 and a beta of 1.20. The business has a fifty day moving average of $13.55 and a 200-day moving average of $11.16.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, analysts anticipate that FIGS will post 0.01 EPS for the current year.

Insider Activity

In other news, CEO Catherine Eva Spear sold 62,335 shares of FIGS stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $14.44, for a total value of $900,117.40. Following the completion of the sale, the chief executive officer owned 1,794,964 shares of the company’s stock, valued at $25,919,280.16. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 10,872 shares of FIGS stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $14.44, for a total value of $156,991.68. Following the completion of the sale, the chief financial officer directly owned 1,153,388 shares of the company’s stock, valued at approximately $16,654,922.72. This represents a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 675,098 shares of company stock valued at $10,912,375 over the last quarter. Company insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

A number of institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in FIGS by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after acquiring an additional 1,144,962 shares during the period. Vanguard Group Inc. grew its position in FIGS by 4.6% during the third quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock valued at $64,286,000 after acquiring an additional 425,189 shares during the period. Dimensional Fund Advisors LP grew its position in FIGS by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock valued at $29,549,000 after acquiring an additional 70,660 shares during the period. Marshall Wace LLP grew its position in FIGS by 66.2% during the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after acquiring an additional 1,712,610 shares during the period. Finally, Geode Capital Management LLC grew its position in FIGS by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company’s stock valued at $33,608,000 after acquiring an additional 145,270 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.