Hims & Hers Health (NYSE:HIMS) Shares Down 28.5% - Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price dropped 28.5% during mid-day trading on Monday . The stock traded as low as $43.13 and last traded at $45.93. Approximately 81,530,878 shares traded hands during mid-day trading, an increase of 273% from the average daily volume of 21,860,180 shares. The stock had previously closed at $64.22.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Hims & Hers Health from a "hold" rating to a "buy" rating in a research report on Sunday, June 15th. Citigroup reaffirmed a "sell" rating and issued a $30.00 price objective (up from $25.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Truist Financial cut their price objective on shares of Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Piper Sandler restated a "neutral" rating and set a $39.00 target price (up from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $40.00 price target on shares of Hims & Hers Health in a report on Wednesday, June 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Hims & Hers Health has a consensus rating of "Hold" and an average price target of $38.00.

Hims & Hers Health Trading Down 34.5%

The company has a fifty day moving average of $48.71 and a 200-day moving average of $39.33. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 61.00, a PEG ratio of 2.42 and a beta of 2.09.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The business had revenue of $586.01 million for the quarter, compared to the consensus estimate of $535.21 million. During the same quarter last year, the business posted $0.05 earnings per share. The business's quarterly revenue was up 110.7% compared to the same quarter last year. As a group, equities research analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Hims & Hers Health

In other news, insider Irene Becklund sold 8,485 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total transaction of $506,978.75. Following the transaction, the insider now owns 712 shares of the company's stock, valued at approximately $42,542. The trade was a 92.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 3,236 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $27.77, for a total transaction of $89,863.72. Following the sale, the insider now owns 170,285 shares of the company's stock, valued at approximately $4,728,814.45. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 751,034 shares of company stock valued at $36,486,522 over the last 90 days. 17.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Hims & Hers Health

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Hims & Hers Health during the fourth quarter worth $18,048,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Hims & Hers Health during the 4th quarter worth $208,000. Commonwealth Equity Services LLC increased its position in shares of Hims & Hers Health by 111.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 58,894 shares of the company's stock worth $1,424,000 after purchasing an additional 31,062 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Hims & Hers Health by 51.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 17,225 shares of the company's stock valued at $417,000 after buying an additional 5,885 shares during the period. Finally, Amundi lifted its position in Hims & Hers Health by 49.1% in the fourth quarter. Amundi now owns 12,741 shares of the company's stock valued at $328,000 after buying an additional 4,197 shares during the last quarter. Hedge funds and other institutional investors 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.