Hims & Hers Health (NYSE:HIMS) Trading Down 5.3% - Here's What Happened

Key Points

• Hims & Hers Health shares fell by 5.3%, trading at $62.64, with a significant decrease in trading volume of 63% compared to its average.
• Analysts have recently issued mixed ratings, with target prices ranging from $30.00 to $48.00, resulting in an average rating of "Hold" and a consensus price target of $39.83.
• In its latest quarterly earnings report, Hims & Hers Health exceeded expectations by reporting an EPS of $0.20 and a revenue increase of 110.7% year-over-year, totaling $586.01 million.

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares dropped 5.3% during mid-day trading on Friday . The company traded as low as $62.40 and last traded at $62.64. Approximately 12,377,735 shares changed hands during trading, a decline of 63% from the average daily volume of 33,747,074 shares. The stock had previously closed at $66.18.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Truist Financial boosted their target price on Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and lowered their price objective for the company from $44.00 to $30.00 in a research report on Tuesday, April 29th. UBS Group set a $30.00 price target on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health currently has an average rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Price Performance

The firm has a fifty day simple moving average of $53.46 and a two-hundred day simple moving average of $43.79. The firm has a market capitalization of $14.06 billion, a P/E ratio of 90.76, a price-to-earnings-growth ratio of 2.42 and a beta of 2.02.

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

Insider Transactions at Hims & Hers Health

In related news, insider Soleil Boughton sold 2,572 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $58.70, for a total transaction of $150,976.40. Following the completion of the sale, the insider directly owned 155,593 shares of the company's stock, valued at approximately $9,133,309.10. This trade represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Chi sold 2,100 shares of Hims & Hers Health stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $57.52, for a total value of $120,792.00. Following the sale, the insider directly owned 278,654 shares of the company's stock, valued at approximately $16,028,178.08. This trade represents a 0.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 737,704 shares of company stock valued at $40,644,035. 13.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in HIMS. American Century Companies Inc. increased its position in Hims & Hers Health by 8.8% in the 4th quarter. American Century Companies Inc. now owns 140,758 shares of the company's stock valued at $3,404,000 after acquiring an additional 11,425 shares during the period. LPL Financial LLC increased its holdings in shares of Hims & Hers Health by 1.0% during the 4th quarter. LPL Financial LLC now owns 97,958 shares of the company's stock worth $2,369,000 after buying an additional 980 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Hims & Hers Health in the 4th quarter valued at about $1,356,000. Pictet Asset Management Holding SA raised its stake in Hims & Hers Health by 26.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 23,129 shares of the company's stock worth $559,000 after acquiring an additional 4,898 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Hims & Hers Health in the fourth quarter valued at approximately $208,000. Hedge funds and other 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.

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