Hims & Hers Health (NYSE:HIMS) Stock Price Down 8% - What's Next?

Key Points

• Hims & Hers Health shares fell 8% in midday trading, hitting an intraday low of $22.78 after closing at $25.05 the previous day. Trading volume was also well below average, signaling weak buying interest.
• The company’s latest earnings missed expectations, with Q1 EPS of -$0.40 versus the expected $0.04 and revenue of $608.1 million versus the $616.84 million forecast. Revenue still rose 3.8% year over year, but the miss weighed on sentiment.
• Wall Street remains cautious: analysts currently have a consensus rating of “Hold” with an average target price of $29.50. Recent insider selling and mixed analyst actions have added to the pressure on the stock.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares dropped 8% during mid-day trading on Monday . The company traded as low as $22.78 and last traded at $23.0530. Approximately 6,482,082 shares traded hands during trading, a decline of 80% from the average daily volume of 32,769,262 shares. The stock had previously closed at $25.05.

Wall Street Analyst Weigh In

HIMS has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Hims & Hers Health from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. UBS Group set a $35.00 target price on shares of Hims & Hers Health in a research note on Tuesday, May 12th. Zacks Research raised shares of Hims & Hers Health from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 25th. Jefferies Financial Group set a $24.50 target price on shares of Hims & Hers Health in a research note on Tuesday, May 12th. Finally, Truist Financial reissued a "hold" rating and issued a $18.00 target price (down from $37.00) on shares of Hims & Hers Health in a research note on Tuesday, February 24th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $29.50.

Hims & Hers Health Price Performance

The stock has a market cap of $5.17 billion, a PE ratio of -252.06, a P/E/G ratio of 44.19 and a beta of 2.43. The company has a current ratio of 1.69, a quick ratio of 1.56 and a debt-to-equity ratio of 2.18. The company's 50 day moving average is $23.79 and its 200-day moving average is $28.77.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.44). The business had revenue of $608.10 million for the quarter, compared to analysts' expectations of $616.84 million. Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. As a group, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.04 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other news, insider Irene Becklund sold 5,529 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total value of $136,511.01. Following the completion of the sale, the insider owned 8,752 shares of the company's stock, valued at approximately $216,086.88. The trade was a 38.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Chi sold 97,289 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $24.69, for a total transaction of $2,402,065.41. Following the completion of the sale, the chief operating officer directly owned 407,282 shares of the company's stock, valued at $10,055,792.58. The trade was a 19.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 204,857 shares of company stock worth $5,285,706 over the last quarter. Company insiders own 11.76% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently modified their holdings of HIMS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Hims & Hers Health by 23.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 418,699 shares of the company's stock worth $12,373,000 after purchasing an additional 78,543 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Hims & Hers Health during the 1st quarter valued at about $30,000. EverSource Wealth Advisors LLC grew its position in shares of Hims & Hers Health by 273.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 938 shares of the company's stock valued at $47,000 after buying an additional 687 shares during the last quarter. Amundi grew its position in shares of Hims & Hers Health by 5.3% during the 2nd quarter. Amundi now owns 10,296 shares of the company's stock valued at $489,000 after buying an additional 522 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Hims & Hers Health by 9.5% during the 2nd quarter. California Public Employees Retirement System now owns 338,620 shares of the company's stock valued at $16,880,000 after buying an additional 29,471 shares during the last quarter. Institutional investors own 63.52% of the company's stock.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients' doorsteps.

The company's product portfolio addresses key areas of men's and women's health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.

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