Hims & Hers Health (NYSE:HIMS) Trading Down 1.4% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares were down 1.4% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $46.70 and last traded at $47.28. Approximately 7,749,994 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 23,202,298 shares. The stock had previously closed at $47.96.

Specifically, insider Soleil Boughton sold 2,572 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $50.50, for a total transaction of $129,886.00. Following the completion of the transaction, the insider directly owned 160,737 shares in the company, valued at $8,117,218.50. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley reiterated an "equal weight" rating and issued a $40.00 target price on shares of Hims & Hers Health in a report on Wednesday, June 11th. Bank of America upped their price objective on shares of Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Hims & Hers Health from a "hold" rating to a "buy" rating in a research note on Sunday, June 15th. Citigroup reaffirmed a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, UBS Group set a $30.00 price target on Hims & Hers Health in a report on Monday, June 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.58.

Hims & Hers Health Stock Performance

The company has a 50 day moving average price of $51.02 and a 200 day moving average price of $39.92. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 68.77, a P/E/G ratio of 1.76 and a beta of 2.02.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The business had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company's quarterly revenue was up 110.7% on a year-over-year basis. Research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Hims & Hers Health

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of Hims & Hers Health in the first quarter valued at approximately $30,000. Blume Capital Management Inc. lifted its stake in 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 acquiring an additional 600 shares in the last quarter. UMB Bank n.a. boosted its holdings in Hims & Hers Health by 247.5% during the 1st quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock worth $39,000 after acquiring an additional 933 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Hims & Hers Health in the 1st quarter worth $41,000. Finally, Larson Financial Group LLC raised its holdings in shares of Hims & Hers Health by 47.7% in the first quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock valued at $42,000 after purchasing an additional 458 shares during the last quarter. 63.52% of the stock is currently owned by 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.