Hims & Hers Health (NYSE:HIMS) Trading Down 1.1% - Here's Why

Shares of Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) fell 1.1% on Monday . The company traded as low as $48.74 and last traded at $48.86. 13,255,516 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 23,069,928 shares. The stock had previously closed at $49.41.

Analysts Set New Price Targets

Several research firms have recently issued reports on HIMS. Truist Financial set a $45.00 price target on Hims & Hers Health in a research report on Tuesday, June 24th. Bank of America boosted their target price on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. TD Cowen downgraded shares of Hims & Hers Health from a "buy" rating to a "hold" rating and cut their price target for the company from $44.00 to $30.00 in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research note on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Hims & Hers Health from a "hold" rating to a "buy" rating in a research note on Sunday, June 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $39.58.

Hims & Hers Health Trading Down 1.1%

The stock's 50 day moving average is $51.02 and its two-hundred day moving average is $39.92. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 68.77, a price-to-earnings-growth ratio of 1.88 and a beta of 2.03.

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

Insider Buying and Selling

In related news, CFO Oluyemi Okupe sold 23,107 shares of Hims & Hers Health stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 65,110 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $59.22, for a total value of $3,855,814.20. Following the sale, the chief executive officer owned 95,105 shares in the company, valued at $5,632,118.10. The trade was a 40.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 694,209 shares of company stock valued at $34,921,275 over the last ninety days. Insiders own 17.71% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HIMS. Private Advisor Group LLC bought a new stake in shares of Hims & Hers Health during the 4th quarter worth approximately $312,000. Bank of New York Mellon Corp increased its holdings in Hims & Hers Health by 128.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,244,953 shares of the company's stock worth $30,103,000 after buying an additional 700,500 shares during the last quarter. Amalgamated Bank raised its position in Hims & Hers Health by 751.2% during the fourth quarter. Amalgamated Bank now owns 55,887 shares of the company's stock worth $1,351,000 after acquiring an additional 49,321 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Hims & Hers Health in the fourth quarter valued at $876,000. Finally, Mutual of America Capital Management LLC acquired a new stake in Hims & Hers Health in the fourth quarter valued at $700,000. 63.52% of the stock is currently owned by 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.