Hims & Hers Health (NYSE:HIMS) Shares Down 1.1% - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) traded down 1.1% during trading on Friday . The stock traded as low as $49.72 and last traded at $49.70. 5,549,288 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 23,717,919 shares. The stock had previously closed at $50.27.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and lowered their target price for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. Citigroup reissued a "sell" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Piper Sandler reissued a "neutral" rating and issued a $39.00 target price (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Truist Financial set a $45.00 target price on Hims & Hers Health in a research note on Tuesday, June 24th. Finally, UBS Group set a $30.00 target price on Hims & Hers Health in a research note on Monday, June 23rd. Three 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. According to data from MarketBeat, Hims & Hers Health presently has a consensus rating of "Hold" and an average target price of $39.58.

Hims & Hers Health Stock Down 4.7%

The company has a fifty day simple moving average of $53.68 and a two-hundred day simple moving average of $40.96. The stock has a market capitalization of $10.72 billion, a P/E ratio of 69.44, a price-to-earnings-growth ratio of 1.85 and a beta of 2.02.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results 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 firm 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 22.75% and a net margin of 9.24%. The company's revenue for the quarter was up 110.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, insider Michael Chi sold 17,102 shares of Hims & Hers Health stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $59.75, for a total value of $1,021,844.50. Following the sale, the insider owned 278,654 shares of the company's stock, valued at $16,649,576.50. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Oluyemi Okupe sold 11,581 shares of Hims & Hers Health stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $46.67, for a total value of $540,485.27. Following the completion of the sale, the chief financial officer directly owned 58,078 shares in the company, valued at $2,710,500.26. This represents a 16.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 670,250 shares of company stock worth $34,487,591. 13.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Hims & Hers Health by 15.7% during the first quarter. Smartleaf Asset Management LLC now owns 1,672 shares of the company's stock worth $49,000 after buying an additional 227 shares during the last quarter. Allworth Financial LP increased its position in Hims & Hers Health by 20.0% during the first quarter. Allworth Financial LP now owns 2,006 shares of the company's stock worth $56,000 after buying an additional 334 shares during the last quarter. Signaturefd LLC increased its position in Hims & Hers Health by 17.7% during the first quarter. Signaturefd LLC now owns 2,586 shares of the company's stock worth $76,000 after buying an additional 388 shares during the last quarter. SlateStone Wealth LLC increased its position in Hims & Hers Health by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock worth $257,000 after buying an additional 413 shares during the last quarter. Finally, Kilter Group LLC increased its position in Hims & Hers Health by 1.0% during the first quarter. Kilter Group LLC now owns 43,989 shares of the company's stock worth $1,300,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

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.