Hims & Hers Health (NYSE:HIMS) Stock Price Down 4.1% Following Insider Selling

Key Points

• Hims & Hers Health shares dropped 4.1% to $47.93 amid insider selling by CEO Andrew Dudum, who sold 660,000 shares for over $33 million, and insider Patrick Harrison Carroll, who sold 60,000 shares.
• Analysts have adjusted ratings on HIMS, with Wall Street Zen downgrading it from "buy" to "hold," while the stock currently holds a consensus rating of "hold" and an average target price of $39.83.
• The company reported a net margin of 9.63% and revenue of $544.83 million for the last quarter, missing estimates; however, this represents a year-over-year revenue increase of 72.6%.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares fell 4.1% during trading on Tuesday following insider selling activity. The company traded as low as $47.36 and last traded at $47.93. 11,177,873 shares changed hands during trading, a decline of 67% from the average session volume of 34,156,691 shares. The stock had previously closed at $49.98.

Specifically, CEO Andrew Dudum sold 660,000 shares of Hims & Hers Health stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $50.58, for a total transaction of $33,382,800.00. Following the transaction, the chief executive officer directly owned 2,214,769 shares in the company, valued at approximately $112,023,016.02. The trade was a 22.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patrick Harrison Carroll sold 60,000 shares of Hims & Hers Health stock in a transaction on Wednesday, August 6th. The shares were 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 directly owned 169,940 shares of the company's stock, valued at approximately $9,105,385.20. The trade was a 26.09% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of brokerages have recently commented on HIMS. Wall Street Zen lowered shares of Hims & Hers Health from a "buy" rating to a "hold" rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Truist Financial boosted their price objective on Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Morgan Stanley reissued an "equal weight" rating and issued a $40.00 price target on shares of Hims & Hers Health in a research note on Wednesday, June 11th. Finally, TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price target for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.83.

Hims & Hers Health Stock Performance

The company has a market cap of $10.77 billion, a PE ratio of 60.15, a PEG ratio of 3.29 and a beta of 2.08. The business's 50-day moving average is $53.53 and its 200 day moving average is $45.29. The company has a debt-to-equity ratio of 1.72, a quick ratio of 4.46 and a current ratio of 4.98.

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

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of HIMS. Farallon Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after acquiring an additional 8,364,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Hims & Hers Health by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,746,081 shares of the company's stock worth $236,622,000 after purchasing an additional 71,593 shares during the period. Northern Trust Corp lifted its position in shares of Hims & Hers Health by 19.5% in the 1st quarter. Northern Trust Corp now owns 2,435,512 shares of the company's stock worth $71,969,000 after purchasing an additional 397,310 shares during the period. Yong Rong HK Asset Management Ltd grew its position in shares of Hims & Hers Health by 41.2% in the 1st quarter. Yong Rong HK Asset Management Ltd now owns 2,400,000 shares of the company's stock worth $70,920,000 after buying an additional 700,100 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Hims & Hers Health in the 1st quarter worth approximately $58,403,000. 63.52% of the stock is owned by hedge funds and other 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.

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