Hims & Hers Health (NYSE:HIMS) Stock Price Down 2.3% Following Analyst Downgrade

Key Points

• Hims & Hers Health's stock price declined by 2.3% following a downgrade from Truist Financial, which lowered its price target from $48.00 to $37.00 while maintaining a hold rating.
• Insider trading activity saw significant sell-offs, with insiders selling over 1.27 million shares worth $66.4 million in the last three months, indicating potential insider confidence issues.
• Despite missing quarterly earnings expectations, the company reported a 72.6% year-over-year revenue growth with revenue of $544.83 million but fell short of the anticipated $550.06 million.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price was down 2.3% during trading on Monday after Truist Financial lowered their price target on the stock from $48.00 to $37.00. Truist Financial currently has a hold rating on the stock. Hims & Hers Health traded as low as $44.55 and last traded at $44.96. Approximately 7,048,217 shares changed hands during trading, a decline of 79% from the average daily volume of 33,829,633 shares. The stock had previously closed at $46.02.

Several other analysts have also weighed in on HIMS. Piper Sandler reissued a "neutral" rating and set a $39.00 price objective (up previously from $35.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. UBS Group set a $30.00 price objective on Hims & Hers Health in a research report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Citigroup reaffirmed a "sell" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Finally, Bank of America lifted their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $38.92.

Insiders Place Their Bets

In other news, insider Michael Chi sold 17,102 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $59.75, for a total transaction of $1,021,844.50. Following the sale, the insider directly owned 278,654 shares of the company's stock, valued at approximately $16,649,576.50. This represents a 5.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 23,107 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the transaction, the chief financial officer owned 63,222 shares of the company's stock, valued at approximately $2,987,239.50. This represents a 26.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,273,034 shares of company stock worth $66,425,573 in the last three months. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HIMS. Virtus Advisers LLC acquired a new stake in Hims & Hers Health during the 2nd quarter worth about $26,000. Quaker Wealth Management LLC bought a new stake in shares of Hims & Hers Health in the 2nd quarter worth approximately $29,000. Bessemer Group Inc. grew its stake 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 buying an additional 312 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Hims & Hers Health in the 1st quarter valued at approximately $30,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake 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 buying an additional 600 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Price Performance

The firm has a market capitalization of $10.19 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 2.91 and a beta of 2.08. The company has a debt-to-equity ratio of 1.72, a quick ratio of 4.46 and a current ratio of 4.98. The business's 50 day moving average is $52.96 and its two-hundred day moving average is $45.72.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released 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 analysts' expectations of $550.06 million. Hims & Hers Health had a net margin of 9.63% and a return on equity of 26.26%. The firm's revenue for the quarter was up 72.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. Equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

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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