Hims & Hers Health (NYSE:HIMS) Shares Down 6.4% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price fell 6.4% during mid-day trading on Wednesday . The stock traded as low as $34.88 and last traded at $34.67. 3,761,791 shares were traded during mid-day trading, a decline of 73% from the average session volume of 13,892,059 shares. The stock had previously closed at $37.04.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HIMS. Piper Sandler boosted their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. BTIG Research initiated coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Leerink Partners raised their target price on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Canaccord Genuity Group lifted their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Citigroup restated a “sell” rating and issued a $27.00 price target on shares of Hims & Hers Health in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued 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 a consensus target price of $37.31.

Hims & Hers Health Stock Down 4.2 %

The stock has a market cap of $7.10 billion, a PE ratio of 72.63 and a beta of 1.37. The firm’s fifty day moving average price is $39.85 and its 200 day moving average price is $29.27.

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 firm had revenue of $481.14 million during the quarter, compared to analyst estimates 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, analysts anticipate 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, COO Melissa Baird sold 67,687 shares of Hims & Hers Health stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $34.84, for a total transaction of $2,358,215.08. Following the completion of the transaction, the chief operating officer now directly owns 751,243 shares of the company’s stock, valued at $26,173,306.12. The trade was a 8.27 % 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 shares were 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 in the company, valued at approximately $4,712,033.25. This represents a 61.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,061,718 shares of company stock valued at $37,894,395. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of large investors have recently made changes to their positions in the company. Main Management ETF Advisors LLC bought a new stake in Hims & Hers Health in the third quarter worth about $672,000. Means Investment CO. Inc. raised its holdings in shares of Hims & Hers Health by 23.5% in the fourth quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock worth $1,210,000 after buying an additional 9,508 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Hims & Hers Health by 102.0% during the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after acquiring an additional 146,621 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Hims & Hers Health during the 4th quarter valued at $2,628,000. Finally, Pacer Advisors Inc. purchased a new position in Hims & Hers Health during the 4th quarter valued at $374,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.