Hims & Hers Health (NYSE:HIMS) Shares Down 5.9% – Here’s Why

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) were down 5.9% during mid-day trading on Tuesday . The stock traded as low as $57.61 and last traded at $56.91. Approximately 5,781,827 shares were traded during trading, a decline of 57% from the average daily volume of 13,390,774 shares. The stock had previously closed at $60.47.

Analysts Set New Price Targets

HIMS has been the topic of a number of research analyst reports. TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group lifted their target price on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Piper Sandler increased their price target on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $42.00 to $60.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.33.

Hims & Hers Health Price Performance

The company’s 50-day moving average is $33.17 and its 200-day moving average is $24.89. The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of 132.98 and a beta of 1.35.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, COO Melissa Baird sold 67,687 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $44.71, for a total transaction of $3,026,285.77. Following the completion of the sale, the chief operating officer now directly owns 706,872 shares in the company, valued at $31,604,247.12. The trade was a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the stock in a transaction on 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 1,052,332 shares of company stock worth $32,620,497 in the last ninety days. Insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC purchased a new position in Hims & Hers Health in the fourth quarter valued at about $28,000. Raleigh Capital Management Inc. grew its stake in shares of Hims & Hers Health by 1,100.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,100 shares in the last quarter. Blume Capital Management Inc. raised its holdings in shares of Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 600 shares during the period. Smartleaf Asset Management LLC lifted its position in Hims & Hers Health by 4,415.6% during 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 acquired a new position in Hims & Hers Health during the 4th quarter worth approximately $38,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.