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

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped down before the market opened on Monday . The stock had previously closed at $35.95, but opened at $34.11. Hims & Hers Health shares last traded at $35.21, with a volume of 5,276,855 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HIMS shares. Truist Financial boosted their price target on Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler raised their price target on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. BTIG Research assumed coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 target price on the stock. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Finally, Needham & Company LLC boosted their price target on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.23.

Hims & Hers Health Trading Up 0.6 %

The business has a 50-day moving average price of $38.03 and a 200-day moving average price of $27.86. The stock has a market cap of $7.70 billion, a PE ratio of 78.81 and a beta of 1.37.

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, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $481.14 million for the quarter, compared to the consensus estimate of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Equities analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $24.07, for a total value of $174,724.13. Following the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at $4,659,976.07. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the sale, the insider now owns 169,803 shares of the company’s stock, valued at $4,712,033.25. This trade represents a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 969,191 shares of company stock worth $34,005,375. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in HIMS. Vanguard Group Inc. increased its stake in shares of Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after acquiring an additional 2,020,722 shares during the last quarter. Farallon Capital Management LLC grew its holdings in shares of Hims & Hers Health by 64,338.5% in the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock valued at $202,556,000 after purchasing an additional 8,364,000 shares during the period. Renaissance Technologies LLC increased its position in Hims & Hers Health by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock valued at $152,436,000 after purchasing an additional 4,145,305 shares during the last quarter. Finally, State Street Corp raised its position in shares of Hims & Hers Health by 4.7% during the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after buying an additional 206,078 shares during the period. 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.