Hims & Hers Health (NYSE:HIMS) Trading Down 2.6% - Time to Sell?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) traded down 2.6% on Friday . The stock traded as low as $54.67 and last traded at $55.66. 9,795,276 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 20,994,525 shares. The stock had previously closed at $57.15.

Wall Street Analysts Forecast Growth

HIMS has been the subject of several recent analyst reports. Piper Sandler reiterated a "neutral" rating and set a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Bank of America boosted their price objective on shares of Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a report on Tuesday, April 29th. TD Cowen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their target price for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Finally, Truist Financial reduced their target price on shares of Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health presently has an average rating of "Hold" and an average price target of $38.00.

Hims & Hers Health Price Performance

The firm has a market capitalization of $12.38 billion, a P/E ratio of 125.75 and a beta of 2.09. The business's 50-day moving average is $45.09 and its 200 day moving average is $38.21.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company's revenue for the quarter was up 110.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 EPS. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 11,581 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.22, for a total transaction of $697,407.82. Following the transaction, the chief financial officer now directly owns 113,816 shares of the company's stock, valued at $6,853,999.52. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Dudum sold 128,127 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $33.98, for a total value of $4,353,755.46. Following the completion of the sale, the chief executive officer now owns 173,655 shares in the company, valued at approximately $5,900,796.90. The trade was a 42.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 628,067 shares of company stock worth $25,832,688 over the last quarter. Company insiders own 13.71% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIMS. Vanguard Group Inc. increased its position in shares of Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after purchasing an additional 2,020,722 shares during the last quarter. Farallon Capital Management LLC lifted its position in Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after buying an additional 8,364,000 shares during the period. Renaissance Technologies LLC grew its stake in shares of 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 buying an additional 1,562,302 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock valued at $152,436,000 after purchasing an additional 4,145,305 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,329,996 shares of the company's stock valued at $104,724,000 after purchasing an additional 40,447 shares in the last quarter. 63.52% of the stock is currently 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.