Hims & Hers Health (NYSE:HIMS) Stock Price Down 7.3% – What’s Next?

Hims & Hers Health, Inc. (NYSE:HIMS) fell 7.3% during mid-day trading on Monday. The stock traded as low as $23.91 and last traded at $24.1070. 5,199,826 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 22,010,988 shares. The stock had previously closed at $26.00.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HIMS. Weiss Ratings reiterated a “sell (d)” rating on shares of Hims & Hers Health in a report on Wednesday. Bank of America upped their price objective on shares of Hims & Hers Health from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Barclays decreased their price objective on shares of Hims & Hers Health from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. JPMorgan Chase & Co. started coverage on shares of Hims & Hers Health in a research report on Friday, September 11th. They set a “neutral” rating and a $32.00 target price on the stock. Finally, Needham & Company LLC boosted their target price on Hims & Hers Health from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Hold” and a consensus price target of $32.43.

Hims & Hers Health Stock Down 7.0%

The stock has a 50 day moving average price of $28.43 and a 200 day moving average price of $26.94. The company has a debt-to-equity ratio of 4.21, a quick ratio of 0.87 and a current ratio of 0.93. The company has a market capitalization of $5.64 billion, a P/E ratio of -38.36 and a beta of 2.53.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.32). The company had revenue of $753.21 million for the quarter, compared to the consensus estimate of $698.90 million. Hims & Hers Health had a negative net margin of 5.51% and a negative return on equity of 6.51%. Hims & Hers Health’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. Equities research analysts forecast that Hims & Hers Health, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Soleil Boughton sold 3,462 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $27.60, for a total transaction of $95,551.20. Following the sale, the insider directly owned 293,886 shares in the company, valued at approximately $8,111,253.60. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Chi sold 14,027 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $28.39, for a total value of $398,226.53. Following the sale, the chief operating officer directly owned 456,660 shares in the company, valued at $12,964,577.40. This trade represents a 2.98% 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 have sold a total of 133,905 shares of company stock valued at $3,826,977 over the last quarter. Company insiders own 11.76% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Hims & Hers Health by 194.4% during the first quarter. Bank of America Corp DE now owns 4,357,672 shares of the company’s stock valued at $90,465,000 after purchasing an additional 2,877,550 shares in the last quarter. State of Michigan Retirement System raised its holdings in Hims & Hers Health by 13.7% in the first quarter. State of Michigan Retirement System now owns 2,338,600 shares of the company’s stock worth $48,549,000 after purchasing an additional 280,900 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Hims & Hers Health in the second quarter worth $46,220,000. Principal Financial Group Inc. raised its holdings in Hims & Hers Health by 97.3% in the first quarter. Principal Financial Group Inc. now owns 1,282,266 shares of the company’s stock worth $26,620,000 after purchasing an additional 632,282 shares in the last quarter. Finally, Bienville Capital Management LLC purchased a new position in Hims & Hers Health during the second quarter valued at $27,242,000. 63.52% of the stock is currently owned by institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc operates a consumer-focused telehealth platform that connects patients with licensed healthcare providers and offers access to treatments and wellness products. Its services include online consultations, prescription care and over-the-counter products.

The company serves a range of health needs, including hair loss, sexual health, skin care, mental health and weight management. Its platform also offers primary care and other services, with offerings varying by location and individual eligibility.

Founded in 2017, the company initially launched its Hims brand and later introduced Hers, expanding its services to a broader audience.