Hims & Hers Health (NYSE:HIMS) Shares Down 7.6% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS) fell 7.6% on Tuesday . The company traded as low as $36.81 and last traded at $37.58. 9,372,761 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 12,882,544 shares. The stock had previously closed at $40.68.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HIMS. Canaccord Genuity Group lifted their price target on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler increased their price target on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. BTIG Research started coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. Leerink Partners upped their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC raised their price objective on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.23.

Hims & Hers Health Stock Down 0.2 %

The company has a market cap of $9.02 billion, a PE ratio of 92.31 and a beta of 1.35. The firm’s 50-day moving average is $36.83 and its 200-day moving average is $26.99.

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

Insider Buying and Selling at Hims & Hers Health

In other news, CEO Andrew Dudum sold 78,127 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.62, for a total value of $2,314,121.74. Following the sale, the chief executive officer now directly owns 109,956 shares of the company’s stock, valued at $3,256,896.72. The trade was a 41.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $24.07, for a total value of $174,724.13. Following the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $4,659,976.07. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,062,011 shares of company stock valued at $36,892,724. 17.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

Institutional investors have recently bought and sold shares of the company. Main Management ETF Advisors LLC purchased a new stake in shares of Hims & Hers Health during the third quarter valued at approximately $672,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Hims & Hers Health in the 3rd quarter worth $604,000. Royce & Associates LP raised its stake in shares of Hims & Hers Health by 17.0% in the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after purchasing an additional 49,500 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Hims & Hers Health during the third quarter valued at $634,000. Finally, Blueshift Asset Management LLC increased its holdings in Hims & Hers Health by 834.8% in the 3rd quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company’s stock worth $4,513,000 after buying an additional 218,804 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.