Hims & Hers Health (NYSE:HIMS) Stock Price Down 4.5% – Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS) fell 4.5% on Monday . The company traded as low as $61.08 and last traded at $61.72. 16,376,933 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 19,391,193 shares. The stock had previously closed at $64.65.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Piper Sandler restated a “neutral” rating and set a $39.00 price objective (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. TD Cowen downgraded Hims & Hers Health from a “buy” rating to a “hold” rating and decreased their target price for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and set a $61.00 price target on shares of Hims & Hers Health in a report on Tuesday, May 6th. Finally, Bank of America upped their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the stock an “underperform” rating in a report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus price target of $37.67.

Hims & Hers Health Trading Down 3.6%

The business’s 50 day moving average is $35.44 and its 200 day moving average is $33.90. The stock has a market capitalization of $13.96 billion, a PE ratio of 141.71 and a beta of 1.84.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s revenue was up 110.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity

In other Hims & Hers Health news, insider Irene Becklund sold 2,203 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $28.78, for a total value of $63,402.34. Following the sale, the insider now directly owns 8,007 shares of the company’s stock, valued at approximately $230,441.46. This trade represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the transaction, the chief executive officer now owns 97,687 shares in the company, valued at $5,692,221.49. This trade represents a 56.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 563,973 shares of company stock worth $21,951,757. Insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Means Investment CO. Inc. raised its holdings in Hims & Hers Health by 23.5% in the 4th quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock valued at $1,210,000 after acquiring an additional 9,508 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Hims & Hers Health during the fourth quarter valued at about $18,048,000. State of Alaska Department of Revenue acquired a new position in Hims & Hers Health during the 4th quarter worth about $2,628,000. Pacer Advisors Inc. purchased a new position in Hims & Hers Health in the 4th quarter valued at approximately $374,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Hims & Hers Health during the fourth quarter worth about $2,234,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.