Hims & Hers Health (NYSE:HIMS) Shares Down 4.5% on Insider Selling

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) were down 4.5% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $22.28 and last traded at $22.52. Approximately 830,051 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 8,164,942 shares. The stock had previously closed at $23.59.

Specifically, insider Michael Chi sold 7,500 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $22.20, for a total transaction of $166,500.00. Following the completion of the sale, the insider now directly owns 193,980 shares in the company, valued at $4,306,356. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

HIMS has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Hims & Hers Health from $14.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, June 27th. Bank of America upped their price target on shares of Hims & Hers Health from $23.00 to $25.00 and gave the company a “buy” rating in a report on Monday. TD Cowen upped their price target on shares of Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Finally, Piper Sandler reiterated a “neutral” rating and set a $18.00 price target on shares of Hims & Hers Health in a report on Tuesday, August 6th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.21.

Hims & Hers Health Stock Performance

The stock’s 50-day simple moving average is $17.36 and its 200-day simple moving average is $17.76. The firm has a market capitalization of $4.62 billion, a PE ratio of 269.03 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $315.65 million for the quarter, compared to the consensus estimate of $302.43 million. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The company’s revenue was up 51.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) EPS. As a group, analysts predict that Hims & Hers Health, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Hims & Hers Health by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock worth $221,379,000 after buying an additional 136,907 shares during the period. Renaissance Technologies LLC grew its position in shares of Hims & Hers Health by 113.1% in the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after buying an additional 3,205,108 shares during the period. Farallon Capital Management LLC grew its position in shares of Hims & Hers Health by 3,890.5% in the 1st quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock worth $25,928,000 after buying an additional 1,634,000 shares during the period. Bank of New York Mellon Corp grew its position in Hims & Hers Health by 67.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company’s stock valued at $13,701,000 after purchasing an additional 273,473 shares during the last quarter. Finally, M&G Plc purchased a new stake in Hims & Hers Health during the 1st quarter valued at about $8,232,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.