Hims & Hers Health (NYSE:HIMS) Shares Down 1.7% - Here's What Happened

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price was down 1.7% during trading on Friday . The company traded as low as $48.50 and last traded at $49.16. Approximately 8,000,998 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 33,409,367 shares. The stock had previously closed at $49.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Truist Financial upped their price objective on Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a research report on Thursday. Morgan Stanley reissued an "equal weight" rating and set a $40.00 target price on shares of Hims & Hers Health in a research report on Wednesday, June 11th. UBS Group set a $30.00 target price on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, Wall Street Zen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.83.

Hims & Hers Health Stock Up 0.4%

The company has a fifty day moving average of $53.86 and a two-hundred day moving average of $41.62. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 72.61, a P/E/G ratio of 1.91 and a beta of 2.02.

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

Insiders Place Their Bets

In other news, CFO Oluyemi Okupe sold 23,107 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the transaction, the chief financial officer directly owned 63,222 shares of the company's stock, valued at $2,987,239.50. This represents a 26.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $58.40, for a total transaction of $7,482,616.80. Following the sale, the chief executive officer directly owned 89,311 shares in the company, valued at approximately $5,215,762.40. This represents a 58.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 633,126 shares of company stock worth $33,717,663. Insiders own 13.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

Hedge funds have recently bought and sold shares of the company. Truist Financial Corp increased its position in shares of Hims & Hers Health by 20.7% in the second quarter. Truist Financial Corp now owns 9,643 shares of the company's stock valued at $481,000 after buying an additional 1,656 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Hims & Hers Health by 15.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 10,019 shares of the company's stock valued at $499,000 after acquiring an additional 1,311 shares in the last quarter. Signaturefd LLC raised its position in Hims & Hers Health by 36.6% during the second quarter. Signaturefd LLC now owns 3,532 shares of the company's stock worth $176,000 after acquiring an additional 946 shares during the last quarter. ST Germain D J Co. Inc. purchased a new stake in shares of Hims & Hers Health in the second quarter valued at about $133,000. Finally, Dakota Wealth Management acquired a new stake in shares of Hims & Hers Health in the second quarter valued at approximately $354,000. 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.

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