Hims & Hers Health (NYSE:HIMS) Shares Down 2.9% – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS) fell 2.9% on Wednesday . The stock traded as low as $32.77 and last traded at $33.69. 9,787,412 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 13,307,679 shares. The stock had previously closed at $34.71.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HIMS. Piper Sandler raised their price target on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Leerink Partners lifted their target price on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 25th. Needham & Company LLC lifted their target price on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. BTIG Research initiated coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Truist Financial lifted their target price on shares of Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.23.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $7.17 billion, a PE ratio of 72.18 and a beta of 1.37. The business’s 50 day moving average is $38.36 and its two-hundred day moving average is $27.92.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. As a group, equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Hims & Hers Health

In other news, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the transaction, the insider now directly owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. This represents a 61.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Oluyemi Okupe sold 18,959 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $25.77, for a total transaction of $488,573.43. Following the transaction, the chief financial officer now owns 132,578 shares in the company, valued at $3,416,535.06. This represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 969,191 shares of company stock valued at $34,005,375. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in shares of Hims & Hers Health by 102.0% in the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after buying an additional 146,621 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Hims & Hers Health by 30.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 123,587 shares of the company’s stock worth $2,276,000 after buying an additional 28,600 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Hims & Hers Health by 40.8% during the third quarter. Los Angeles Capital Management LLC now owns 40,353 shares of the company’s stock valued at $743,000 after purchasing an additional 11,686 shares during the period. Versor Investments LP bought a new position in Hims & Hers Health during the third quarter valued at approximately $634,000. Finally, Victory Capital Management Inc. lifted its position in Hims & Hers Health by 164.9% during the third quarter. Victory Capital Management Inc. now owns 51,577 shares of the company’s stock valued at $950,000 after purchasing an additional 32,108 shares during the period. 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.