Hims & Hers Health (NYSE:HIMS) Shares Down 5% - Here's What Happened

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) dropped 5% during trading on Tuesday . The stock traded as low as $47.30 and last traded at $47.33. Approximately 13,986,314 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 23,125,892 shares. The stock had previously closed at $49.85.

Analyst Ratings Changes

Several brokerages have recently issued reports on HIMS. Bank of America upped their price target on Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. Truist Financial set a $45.00 price objective on Hims & Hers Health in a report on Tuesday, June 24th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $40.00 target price on shares of Hims & Hers Health in a research note on Wednesday, June 11th. Needham & Company LLC reiterated a "hold" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, TD Cowen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their price target for the stock from $44.00 to $30.00 in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $39.58.

Hims & Hers Health Stock Down 4.0%

The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 69.38, a PEG ratio of 1.88 and a beta of 2.03. The stock's fifty day moving average is $51.02 and its 200-day moving average is $39.92.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The company had revenue of $586.01 million for the quarter, compared to analysts' expectations of $535.21 million. During the same period last year, the firm 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 predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Melissa Baird sold 33,337 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $27.32, for a total value of $910,766.84. Following the completion of the transaction, the chief operating officer directly owned 805,083 shares in the company, valued at approximately $21,994,867.56. The trade was a 3.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 23,107 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $47.25, for a total value of $1,091,805.75. Following the sale, the chief financial officer directly owned 63,222 shares of the company's stock, valued at approximately $2,987,239.50. The trade was a 26.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 705,790 shares of company stock worth $35,260,135. Corporate insiders own 17.71% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HIMS. Geneos Wealth Management Inc. acquired a new stake in shares of Hims & Hers Health during the first quarter worth $30,000. Blume Capital Management Inc. raised its stake in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 600 shares during the period. UMB Bank n.a. lifted its holdings in shares of Hims & Hers Health by 247.5% in the first quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock valued at $39,000 after purchasing an additional 933 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Hims & Hers Health in the first quarter valued at about $41,000. Finally, Larson Financial Group LLC boosted its position in shares of Hims & Hers Health by 47.7% during the first quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock worth $42,000 after buying an additional 458 shares during the period. 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.