Hims & Hers Health (NYSE:HIMS) Shares Down 1.1% - Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s share price fell 1.1% on Thursday . The stock traded as low as $50.70 and last traded at $51.29. 5,517,993 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 23,989,167 shares. The stock had previously closed at $51.85.

Analysts Set New Price Targets

Several research firms have recently weighed in on HIMS. Needham & Company LLC reiterated a "hold" rating on shares of Hims & Hers Health in a report on Monday, June 23rd. Truist Financial boosted their price objective on shares of 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 issued a $40.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Hims & Hers Health from a "buy" rating to a "hold" rating in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $39.83.

Hims & Hers Health Price Performance

The company's 50-day simple moving average is $53.86 and its 200-day simple moving average is $41.62. The stock has a market capitalization of $11.39 billion, a P/E ratio of 73.89, a price-to-earnings-growth ratio of 1.91 and a beta of 2.02.

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

Insider Activity at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 23,107 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $47.25, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $58.40, for a total transaction of $7,482,616.80. Following the completion of the transaction, the chief executive officer directly owned 89,311 shares in the company, valued at $5,215,762.40. The trade was a 58.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,126 shares of company stock valued at $33,717,663 over the last three months. Company insiders own 13.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

Several large investors have recently modified their holdings of HIMS. Farallon Capital Management LLC grew its stake 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 worth $202,556,000 after buying an additional 8,364,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Hims & Hers Health by 192.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock worth $152,436,000 after buying an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. grew its stake in Hims & Hers Health by 11.1% during the fourth 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 in the last quarter. Nuveen LLC acquired a new stake in Hims & Hers Health during the first quarter worth about $58,403,000. Finally, Renaissance Technologies LLC grew its stake in Hims & Hers Health by 29.0% during the fourth 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 in the last quarter. 63.52% of the stock is owned by institutional investors.

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.