Hims & Hers Health (NYSE:HIMS) Shares Down 2.9% – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price traded down 2.9% on Wednesday . The stock traded as low as $32.77 and last traded at $33.69. 9,787,412 shares were traded during trading, a decline of 26% from the average session volume of 13,307,679 shares. The stock had previously closed at $34.71.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup reissued a “sell” rating and issued a $27.00 price objective on shares of Hims & Hers Health in a report on Thursday, March 6th. TD Cowen reissued a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Bank of America reiterated an “underperform” rating and issued a $21.00 price objective on shares of Hims & Hers Health in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group boosted their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Hold” and an average target price of $37.23.

Hims & Hers Health Stock Performance

The stock has a market cap of $7.50 billion, a PE ratio of 76.55 and a beta of 1.37. The company has a 50 day moving average of $38.03 and a two-hundred day moving average of $27.86.

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

Insider Activity

In related news, CEO Andrew Dudum sold 78,127 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $29.62, for a total value of $2,314,121.74. Following the completion of the transaction, the chief executive officer now directly owns 109,956 shares of the company’s stock, valued at approximately $3,256,896.72. This represents a 41.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Melissa Baird sold 67,687 shares of Hims & Hers Health stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $29.35, for a total transaction of $1,986,613.45. Following the sale, the chief operating officer now directly owns 706,872 shares in the company, valued at approximately $20,746,693.20. This trade represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 969,191 shares of company stock worth $34,005,375 over the last 90 days. 17.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new position in shares of Hims & Hers Health during the 4th quarter worth approximately $28,000. Raleigh Capital Management Inc. lifted its position in Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 1,100 shares in the last quarter. Blume Capital Management Inc. boosted its stake in Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 600 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in 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 valued at $36,000 after buying an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Hims & Hers Health in the 4th quarter worth $38,000. Institutional investors and hedge funds 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.