Hims & Hers Health (NYSE:HIMS) Trading Down 8.6% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS) traded down 8.6% during trading on Thursday . The stock traded as low as $36.33 and last traded at $37.38. 11,249,067 shares were traded during mid-day trading, a decline of 13% from the average session volume of 12,980,799 shares. The stock had previously closed at $40.89.

Analyst Upgrades and Downgrades

HIMS has been the subject of several research reports. Canaccord Genuity Group boosted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC boosted their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Citigroup restated a “sell” rating and set a $27.00 target price on shares of Hims & Hers Health in a research report on Thursday. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Finally, TD Cowen reiterated a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Two equities research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.23.

Hims & Hers Health Stock Down 15.6 %

The business’s fifty day moving average is $37.34 and its 200-day moving average is $27.27. The stock has a market capitalization of $7.67 billion, a PE ratio of 78.52 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly 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. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $481.14 million for the quarter, compared to analysts’ expectations of $494.56 million. As a group, sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Soleil Boughton sold 4,152 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. This represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Melissa Baird sold 85,561 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $31.01, for a total transaction of $2,653,246.61. Following the completion of the sale, the chief operating officer now directly owns 630,986 shares of the company’s stock, valued at $19,566,875.86. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,062,011 shares of company stock valued at $36,892,724 over the last 90 days. 17.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

A number of large investors have recently bought and sold shares of HIMS. Main Management ETF Advisors LLC bought a new stake in Hims & Hers Health in the third quarter valued at $672,000. Robeco Institutional Asset Management B.V. acquired a new stake in Hims & Hers Health during the third quarter valued at approximately $604,000. Royce & Associates LP boosted its stake in shares of Hims & Hers Health by 17.0% during the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after acquiring an additional 49,500 shares in the last quarter. Versor Investments LP acquired a new position in shares of Hims & Hers Health in the 3rd quarter valued at $634,000. Finally, Blueshift Asset Management LLC raised its holdings in shares of Hims & Hers Health by 834.8% during the third quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company’s stock valued at $4,513,000 after acquiring an additional 218,804 shares during the period. Institutional investors 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.