Hims & Hers Health (NYSE:HIMS) Shares Down 6.4% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was down 6.4% during mid-day trading on Wednesday . The stock traded as low as $34.88 and last traded at $34.67. Approximately 3,761,791 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 13,892,059 shares. The stock had previously closed at $37.04.

Analysts Set New Price Targets

HIMS has been the topic of a number of recent research reports. Truist Financial lifted their price objective on Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Citigroup reiterated a “sell” rating and set a $27.00 price objective on shares of Hims & Hers Health in a research note on Thursday, March 6th. Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Bank of America lifted their price target on shares of Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a report on Tuesday, March 18th. Finally, Piper Sandler upped their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health has a consensus rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Price Performance

The firm has a 50-day moving average price of $39.66 and a two-hundred day moving average price of $29.22. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 78.79 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. On average, equities analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In other news, CEO Andrew Dudum sold 128,127 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $33.98, for a total transaction of $4,353,755.46. Following the transaction, the chief executive officer now directly owns 173,655 shares in the company, valued at $5,900,796.90. The trade was a 42.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the sale, the insider now directly owns 169,803 shares in the company, valued at approximately $4,712,033.25. The trade was a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 998,244 shares of company stock valued at $35,662,485. 17.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of Hims & Hers Health by 164.9% in the third quarter. Victory Capital Management Inc. now owns 51,577 shares of the company’s stock valued at $950,000 after purchasing an additional 32,108 shares during the period. Quest Partners LLC lifted its position in Hims & Hers Health by 22.6% during the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after acquiring an additional 807 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Hims & Hers Health during the third quarter worth approximately $1,064,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Hims & Hers Health in the third quarter valued at approximately $2,395,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Hims & Hers Health by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock worth $30,714,000 after purchasing an additional 218,566 shares during the period. Institutional investors own 63.52% of the company’s stock.

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.