Hims & Hers Health (NYSE:HIMS) Trading Down 8% - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s stock price dropped 8% during mid-day trading on Thursday . The company traded as low as $53.70 and last traded at $56.23. Approximately 27,121,530 shares were traded during trading, an increase of 43% from the average daily volume of 18,991,216 shares. The stock had previously closed at $61.12.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Canaccord Genuity Group upped their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and decreased their target price for the stock from $44.00 to $30.00 in a research note on Tuesday, April 29th. Bank of America raised their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a report on Tuesday, April 29th. Piper Sandler reissued a "neutral" rating and set a $39.00 price target (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Finally, UBS Group reiterated a "mixed" rating on shares of Hims & Hers Health in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Hims & Hers Health has an average rating of "Hold" and a consensus target price of $37.67.

Hims & Hers Health Trading Down 6.2%

The firm has a market capitalization of $12.83 billion, a P/E ratio of 130.39 and a beta of 1.84. The company's fifty day simple moving average is $34.36 and its 200 day simple moving average is $33.16.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $586.01 million for the quarter, compared to the consensus estimate of $535.21 million. During the same period last year, the business posted $0.05 EPS. The company's revenue was up 110.7% compared to the same quarter last year. On average, analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the completion of the sale, the chief executive officer now owns 97,687 shares in the company, valued at approximately $5,692,221.49. This trade represents a 56.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Soleil Boughton sold 4,152 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the transaction, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 563,973 shares of company stock valued at $21,951,757 in the last ninety days. Insiders own 13.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its holdings in Hims & Hers Health by 15.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,672 shares of the company's stock valued at $49,000 after buying an additional 227 shares during the last quarter. Allworth Financial LP lifted its holdings in Hims & Hers Health by 20.0% in the 1st quarter. Allworth Financial LP now owns 2,006 shares of the company's stock valued at $56,000 after purchasing an additional 334 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Hims & Hers Health by 17.7% during the first quarter. Signaturefd LLC now owns 2,586 shares of the company's stock worth $76,000 after buying an additional 388 shares in the last quarter. SlateStone Wealth LLC boosted its position in shares of Hims & Hers Health by 4.0% in the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company's stock worth $257,000 after buying an additional 413 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Hims & Hers Health by 47.7% in the first quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock valued at $42,000 after buying an additional 458 shares in the last quarter. Institutional investors and hedge funds 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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