Hims & Hers Health (NYSE:HIMS) Shares Gap Down on Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $31.35, but opened at $29.90. Hims & Hers Health shares last traded at $29.83, with a volume of 3,359,925 shares.

Specifically, CFO Oluyemi Okupe sold 101,993 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.62, for a total transaction of $3,021,032.66. Following the completion of the sale, the chief financial officer now owns 109,392 shares of the company’s stock, valued at approximately $3,240,191.04. The trade was a 48.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Soleil Boughton sold 2,343 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total value of $70,055.70. Following the completion of the transaction, the insider now directly owns 165,254 shares in the company, valued at $4,941,094.60. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

HIMS has been the subject of several analyst reports. Piper Sandler reissued a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC began coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and a consensus target price of $20.71.

Hims & Hers Health Price Performance

The firm has a market capitalization of $6.63 billion, a PE ratio of 68.98 and a beta of 1.06. The business has a 50-day simple moving average of $21.14 and a 200-day simple moving average of $19.57.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, research analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after purchasing an additional 3,205,108 shares during the last quarter. Farallon Capital Management LLC raised its stake in Hims & Hers Health by 3,890.5% in the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after buying an additional 1,634,000 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Hims & Hers Health by 34.5% in the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after acquiring an additional 883,230 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Hims & Hers Health by 12.7% in the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after acquiring an additional 482,177 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Hims & Hers Health by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after acquiring an additional 328,142 shares during the last quarter. 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 platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.