Hims & Hers Health (NYSE:HIMS) Shares Down 3.1% - Here's Why

Shares of Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) were down 3.1% during mid-day trading on Wednesday . The company traded as low as $60.82 and last traded at $62.02. Approximately 22,434,872 shares changed hands during trading, a decline of 24% from the average daily volume of 29,341,600 shares. The stock had previously closed at $64.00.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HIMS shares. Citigroup reiterated a "sell" rating and issued a $30.00 price target (up from $25.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Morgan Stanley decreased their price target on Hims & Hers Health from $60.00 to $40.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. TD Cowen lowered Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their target price for the company from $44.00 to $30.00 in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Finally, Truist Financial reduced their target price on Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $37.67.

Hims & Hers Health Trading Down 2.4%

The business has a 50-day moving average price of $33.85 and a 200 day moving average price of $32.96. The stock has a market capitalization of $13.99 billion, a P/E ratio of 142.00 and a beta of 1.84.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 110.7% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. On average, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, insider Michael Chi sold 17,303 shares of Hims & Hers Health stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $48.14, for a total transaction of $832,966.42. Following the completion of the sale, the insider now owns 193,601 shares of the company's stock, valued at $9,319,952.14. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Soleil Boughton sold 4,152 shares of the company's stock in a transaction that occurred 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 trade represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 563,973 shares of company stock valued at $21,951,757. 13.71% of the stock is owned by corporate insiders.

Institutional Trading of Hims & Hers Health

A number of institutional investors and hedge funds have recently made changes to their positions in HIMS. Crewe Advisors LLC acquired a new position in Hims & Hers Health in the fourth quarter valued at $28,000. Raleigh Capital Management Inc. grew its holdings in Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,100 shares in the last quarter. Blume Capital Management Inc. lifted its position in shares of 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 during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock valued at $36,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Hims & Hers Health during the fourth quarter worth about $38,000. 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.

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