Hims & Hers Health (NYSE:HIMS) Trading Down 3.1% – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) shares dropped 3.1% during mid-day trading on Wednesday . The company traded as low as $37.42 and last traded at $39.22. Approximately 8,825,124 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 12,917,730 shares. The stock had previously closed at $40.49.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Hims & Hers Health from $25.00 to $27.00 and gave the stock a “sell” rating in a research note on Tuesday, February 25th. Needham & Company LLC lifted their target price on shares of Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Piper Sandler boosted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Bank of America raised their price objective on Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Two investment 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. Based on data from MarketBeat.com, Hims & Hers Health has a consensus rating of “Hold” and a consensus target price of $37.23.

Hims & Hers Health Price Performance

The firm has a 50-day simple moving average of $37.08 and a 200-day simple moving average of $27.17. The firm has a market capitalization of $9.09 billion, a PE ratio of 93.76 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (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 company had revenue of $481.14 million for the quarter, compared to the consensus estimate of $494.56 million. Equities analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 268,932 shares of Hims & Hers Health stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.75, for a total value of $7,462,863.00. Following the sale, the insider now owns 169,803 shares of the company’s stock, valued at $4,712,033.25. The trade was a 61.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Chi sold 7,259 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $32.25, for a total value of $234,102.75. Following the sale, the insider now owns 184,947 shares in the company, valued at $5,964,540.75. The trade was a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,062,011 shares of company stock worth $36,892,724 in the last three months. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds have recently modified their holdings of the business. Crewe Advisors LLC purchased a new position in Hims & Hers Health during the fourth quarter valued at approximately $28,000. Raleigh Capital Management Inc. boosted its position in Hims & Hers Health by 1,100.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,100 shares in the last quarter. Blume Capital Management Inc. increased its holdings in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after acquiring an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Hims & Hers Health during the 4th quarter worth $38,000. Hedge funds and other 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.