Hims & Hers Health (NYSE:HIMS) Trading Down 4.3% - Time to Sell?

Key Points

• Hims & Hers Health shares experienced a significant decline of 4.3% on Thursday, trading as low as $46.15 and with a massive drop in trading volume, indicating potential concerns among investors.
• Analysts have mixed sentiments with a consensus rating of "Hold" and a price target of $39.83, with three analysts recommending a sell on the stock.
• The company reported earnings of $0.17 per share, missing estimates, despite a year-over-year revenue increase of 72.6% to $544.83 million.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares dropped 4.3% during mid-day trading on Thursday . The stock traded as low as $46.15 and last traded at $46.27. Approximately 6,961,980 shares were traded during trading, a decline of 80% from the average daily volume of 34,000,465 shares. The stock had previously closed at $48.33.

Wall Street Analysts Forecast Growth

HIMS has been the topic of several research reports. UBS Group set a $30.00 target price on Hims & Hers Health in a research note on Monday, June 23rd. Truist Financial upped their price target on Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Bank of America upped their price target on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Finally, Citigroup restated a "sell" rating on shares of Hims & Hers Health in a report on Monday, June 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Stock Performance

The stock has a 50-day simple moving average of $53.28 and a 200-day simple moving average of $45.32. The company has a debt-to-equity ratio of 1.72, a current ratio of 4.98 and a quick ratio of 4.46. The stock has a market cap of $10.30 billion, a PE ratio of 57.55, a P/E/G ratio of 3.04 and a beta of 2.08.

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

Insider Buying and Selling

In related news, insider Michael Chi sold 2,100 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $57.52, for a total value of $120,792.00. Following the transaction, the insider owned 278,654 shares in the company, valued at approximately $16,028,178.08. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 2,572 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $51.64, for a total value of $132,818.08. Following the completion of the transaction, the insider owned 153,021 shares in the company, valued at approximately $7,902,004.44. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,448,695 shares of company stock worth $76,677,046 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HIMS. Farallon Capital Management LLC raised its stake in Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock valued at $202,556,000 after buying an additional 8,364,000 shares in the last quarter. Invesco Ltd. raised its stake in Hims & Hers Health by 502.2% during the second quarter. Invesco Ltd. now owns 2,552,405 shares of the company's stock valued at $127,237,000 after buying an additional 2,128,587 shares in the last quarter. Nuveen LLC acquired a new stake in Hims & Hers Health during the first quarter valued at approximately $58,403,000. Clear Street LLC acquired a new stake in Hims & Hers Health during the second quarter valued at approximately $83,582,000. Finally, Norges Bank acquired a new stake in Hims & Hers Health during the second quarter valued at approximately $78,464,000. Institutional investors and hedge funds 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.

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