Hims & Hers Health (NYSE:HIMS) Stock Price Down 7.3% – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) shares traded down 7.3% on Tuesday . The company traded as low as $32.31 and last traded at $32.16. 4,273,332 shares were traded during mid-day trading, a decline of 68% from the average session volume of 13,503,571 shares. The stock had previously closed at $34.69.

Analysts Set New Price Targets

A number of research firms have commented on HIMS. Bank of America raised their price target on Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a report on Tuesday. Morgan Stanley cut Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Piper Sandler lifted their target price on Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Truist Financial increased their price target on Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health currently has an average rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Stock Performance

The stock has a market cap of $7.11 billion, a PE ratio of 72.63 and a beta of 1.37. The firm has a fifty day moving average price of $38.64 and a 200 day moving average price of $28.37.

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 company had revenue of $481.14 million during the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. On average, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 36,460 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $27.09, for a total value of $987,701.40. Following the completion of the transaction, the chief executive officer now owns 27,918 shares of the company’s stock, valued at approximately $756,298.62. The trade was a 56.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 890,592 shares of company stock valued at $31,677,291 in the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Hims & Hers Health in the fourth quarter valued at $213,000. IronOak Wealth LLC. purchased a new position in Hims & Hers Health during the fourth quarter worth approximately $922,000. Kilter Group LLC purchased a new position in shares of Hims & Hers Health during the 4th quarter worth $1,053,000. Cim LLC grew its stake in shares of Hims & Hers Health by 1.0% in the 4th quarter. Cim LLC now owns 71,869 shares of the company’s stock valued at $1,738,000 after buying an additional 694 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Hims & Hers Health during the fourth quarter worth $4,900,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.