Hims & Hers Health (NYSE:HIMS) Stock Price Down 1.7% - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price fell 1.7% on Thursday . The company traded as low as $51.01 and last traded at $51.48. 28,734,311 shares were traded during trading, an increase of 61% from the average session volume of 17,878,516 shares. The stock had previously closed at $52.35.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $61.00 price objective on shares of Hims & Hers Health in a research report on Tuesday. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their price target for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Citigroup restated a "sell" rating and set a $30.00 price objective (up previously from $25.00) on shares of Hims & Hers Health in a research report on Tuesday. Leerink Partners increased their target price on Hims & Hers Health from $24.00 to $40.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 25th. Finally, Piper Sandler reissued a "neutral" rating and set a $39.00 price target (up previously from $35.00) on shares of Hims & Hers Health in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Hims & Hers Health presently has a consensus rating of "Hold" and a consensus price target of $37.67.

Hims & Hers Health Stock Performance

The business's 50 day moving average price is $32.97 and its two-hundred day moving average price is $32.35. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 118.28 and a beta of 1.84.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm's revenue for the quarter was up 110.7% compared to the same quarter last year. On average, sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Andrew Dudum sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $36.39, for a total transaction of $1,819,500.00. Following the completion of the sale, the chief executive officer now directly owns 92,103 shares in the company, valued at approximately $3,351,628.17. This trade represents a 35.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Soleil Boughton sold 4,152 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares in the company, valued at $9,549,268.05. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 650,500 shares of company stock valued at $25,790,311 over the last three months. Company insiders own 13.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently modified their holdings of HIMS. Farallon Capital Management LLC raised its holdings in Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after buying an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Hims & Hers Health by 192.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock worth $152,436,000 after acquiring an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after acquiring an additional 2,020,722 shares during the period. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Hims & Hers Health in the 4th quarter valued at approximately $41,104,000. Finally, Renaissance Technologies LLC boosted its stake in Hims & Hers Health by 29.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company's stock worth $168,079,000 after purchasing an additional 1,562,302 shares during the period. 63.52% of the stock is owned by institutional investors and hedge funds.

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.