Hims & Hers Health (NYSE:HIMS) Trading Down 5.4% – Time to Sell?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) dropped 5.4% during mid-day trading on Thursday . The stock traded as low as $31.01 and last traded at $32.09. Approximately 9,594,817 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 13,373,186 shares. The stock had previously closed at $33.93.

Wall Street Analyst Weigh In

HIMS has been the subject of several analyst reports. Morgan Stanley lowered shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Bank of America reiterated an “underperform” rating and issued a $21.00 target price on shares of Hims & Hers Health in a report on Thursday, March 6th. Piper Sandler lifted their target price 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. TD Cowen reiterated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Citigroup reiterated a “sell” rating and issued a $27.00 target price on shares of Hims & Hers Health in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.23.

Hims & Hers Health Trading Up 5.0 %

The firm’s fifty day moving average price is $38.49 and its 200-day moving average price is $28.04. The company has a market cap of $7.35 billion, a P/E ratio of 75.24 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $481.14 million for the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. As a group, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Michael Chi sold 17,303 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $48.14, for a total value of $832,966.42. Following the transaction, the insider now directly owns 193,601 shares in the company, valued at $9,319,952.14. The trade was a 8.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the sale, the insider now directly owns 169,803 shares in the company, valued at $4,712,033.25. This represents a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 969,191 shares of company stock valued at $34,005,375 over the last quarter. 17.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IronOak Wealth LLC. acquired a new position in Hims & Hers Health in the fourth quarter worth $922,000. Kilter Group LLC acquired a new position in Hims & Hers Health in the fourth quarter worth $1,053,000. Cim LLC boosted its stake in Hims & Hers Health by 1.0% in the fourth quarter. Cim LLC now owns 71,869 shares of the company’s stock worth $1,738,000 after purchasing an additional 694 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Hims & Hers Health in the fourth quarter worth $4,900,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Hims & Hers Health in the fourth quarter worth $200,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

About Hims & Hers Health

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.