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

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $58.00, but opened at $53.37. Hims & Hers Health shares last traded at $54.38, with a volume of 15,902,838 shares.

Wall Street Analysts Forecast Growth

HIMS has been the subject of several research analyst reports. UBS Group reiterated a "mixed" rating on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Canaccord Genuity Group increased their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Needham & Company LLC reissued a "buy" rating and set a $61.00 target price on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Citigroup reaffirmed a "sell" rating and issued a $30.00 price target (up previously from $25.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $39.00 price objective (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Hims & Hers Health has a consensus rating of "Hold" and a consensus target price of $37.67.

Hims & Hers Health Stock Down 3.0%

The stock has a market capitalization of $12.59 billion, a P/E ratio of 127.74 and a beta of 1.84. The business has a 50-day simple moving average of $37.10 and a two-hundred day simple moving average of $34.54.

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

Insiders Place Their Bets

In related news, insider Patrick Harrison Carroll sold 23,287 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total value of $798,976.97. Following the transaction, the insider now owns 209,661 shares in the company, valued at $7,193,468.91. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Oluyemi Okupe sold 11,581 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.22, for a total transaction of $697,407.82. Following the sale, the chief financial officer now directly owns 113,816 shares of the company's stock, valued at approximately $6,853,999.52. This trade represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 618,936 shares of company stock valued at $25,182,692. 13.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Farallon Capital Management LLC raised its position in shares of 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 worth $202,556,000 after purchasing an additional 8,364,000 shares during the period. 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 worth $152,436,000 after purchasing an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. raised its holdings in Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock worth $489,817,000 after buying an additional 2,020,722 shares during the period. Nuveen LLC bought a new position in Hims & Hers Health in the first quarter valued at approximately $58,403,000. Finally, Yong Rong HK Asset Management Ltd bought a new stake in Hims & Hers Health in the 4th quarter valued at $41,104,000. Institutional investors and hedge funds own 63.52% of the company's stock.

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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