Hims & Hers Health (NYSE:HIMS) Stock Price Down 2.2% on Insider Selling

Key Points

• Hims & Hers Health's stock dropped 2.2% after insider shares were sold, with notable sales by CEO Andrew Dudum and insider Soleil Boughton, leading to significant decreases in their respective holdings.
• Analysts have lowered Hims & Hers Health from a "buy" to a "hold" rating, with a consensus price target now at $39.83.
• The company reported a quarterly revenue of $544.83 million, slightly below the consensus estimate, with earnings per share at $0.17, missing projections by $0.01.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s share price fell 2.2% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $47.47 and last traded at $46.91. 6,299,724 shares were traded during mid-day trading, a decline of 82% from the average session volume of 34,089,133 shares. The stock had previously closed at $47.96.

Specifically, insider Soleil Boughton sold 2,572 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $51.64, for a total transaction of $132,818.08. Following the completion of the sale, the insider owned 153,021 shares in the company, valued at $7,902,004.44. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 660,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $50.58, for a total value of $33,382,800.00. Following the sale, the chief executive officer owned 2,214,769 shares of the company's stock, valued at approximately $112,023,016.02. This represents a 22.96% decrease in their position. The disclosure for this sale can be found here. In other news, insider Patrick Harrison Carroll sold 60,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $53.58, for a total transaction of $3,214,800.00. Following the completion of the sale, the insider owned 169,940 shares in the company, valued at $9,105,385.20. The trade was a 26.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Hims & Hers Health from a "buy" rating to a "hold" rating in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Needham & Company LLC restated a "hold" rating on shares of Hims & Hers Health in a research report on Tuesday, August 5th. Finally, Truist Financial boosted their price objective on shares of Hims & Hers Health from $45.00 to $48.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Stock Down 2.2%

The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 58.64, a P/E/G ratio of 3.16 and a beta of 2.08. The stock has a fifty day moving average of $53.39 and a two-hundred day moving average of $45.30. The company has a debt-to-equity ratio of 1.72, a current ratio of 4.98 and a quick ratio of 4.46.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $544.83 million for the quarter, compared to the consensus estimate of $550.06 million. Hims & Hers Health had a net margin of 9.63% and a return on equity of 26.26%. The business's revenue was up 72.6% compared to the same quarter last year. During the same period last year, the company posted $0.06 EPS. Sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Hims & Hers Health

Large investors have recently added to or reduced their stakes in the business. Quaker Wealth Management LLC bought a new position in Hims & Hers Health in the 2nd quarter valued at about $29,000. Bessemer Group Inc. lifted its position in Hims & Hers Health by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 607 shares of the company's stock valued at $30,000 after acquiring an additional 312 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Hims & Hers Health by 408.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 747 shares of the company's stock valued at $37,000 after acquiring an additional 600 shares in the last quarter. Spire Wealth Management bought a new position in Hims & Hers Health in the 2nd quarter valued at about $42,000. Finally, Webster Bank N. A. lifted its position in Hims & Hers Health by 229.1% in the 2nd quarter. Webster Bank N. A. now owns 905 shares of the company's stock valued at $45,000 after acquiring an additional 630 shares in the last quarter. Institutional investors 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.

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