Hims & Hers Health (NYSE:HIMS) Stock Price Down 4.5% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was down 4.5% on Wednesday following insider selling activity. The stock traded as low as $22.28 and last traded at $22.52. Approximately 830,051 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 8,164,942 shares. The stock had previously closed at $23.59.

Specifically, insider Michael Chi sold 7,500 shares of Hims & Hers Health stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $22.20, for a total transaction of $166,500.00. Following the sale, the insider now owns 193,980 shares in the company, valued at approximately $4,306,356. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HIMS. Bank of America raised their price target on Hims & Hers Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday. Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. TD Cowen upped their price target on shares of Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $18.00 target price on shares of Hims & Hers Health in a report on Tuesday, August 6th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.21.

Hims & Hers Health Trading Down 4.7 %

The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 294.91 and a beta of 1.06. The stock’s 50 day moving average price is $17.08 and its two-hundred day moving average price is $17.67.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The business had revenue of $315.65 million for the quarter, compared to the consensus estimate of $302.43 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. On average, sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Carnegie Investment Counsel acquired a new stake in shares of Hims & Hers Health during the 3rd quarter worth $5,531,000. Diversify Advisory Services LLC purchased a new position in Hims & Hers Health in the 1st quarter worth approximately $701,000. Sei Investments Co. grew its position in Hims & Hers Health by 206.9% in the first quarter. Sei Investments Co. now owns 56,202 shares of the company’s stock valued at $869,000 after acquiring an additional 37,890 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Hims & Hers Health by 3,444.9% during the first quarter. Quantbot Technologies LP now owns 214,677 shares of the company’s stock valued at $3,321,000 after purchasing an additional 208,621 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Hims & Hers Health by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after purchasing an additional 328,142 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.