Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.9% – Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS) fell 5.9% on Tuesday . The company traded as low as $30.67 and last traded at $30.70. Approximately 4,639,246 shares traded hands during trading, a decline of 53% from the average session volume of 9,885,627 shares. The stock had previously closed at $32.63.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIMS. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Canaccord Genuity Group increased their price objective on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC began coverage on shares of Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Hims & Hers Health has an average rating of “Hold” and an average target price of $21.43.

Hims & Hers Health Price Performance

The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 69.32 and a beta of 1.25. The company has a 50-day simple moving average of $23.82 and a two-hundred day simple moving average of $20.64.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share 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 analysts’ expectations of $382.20 million. During the same quarter last year, the company earned ($0.04) EPS. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. Research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In other news, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total value of $38,593.50. Following the completion of the sale, the insider now owns 176,952 shares in the company, valued at $2,919,708. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Dudum sold 33,513 shares of Hims & Hers Health stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at approximately $1,118,296.76. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 974,495 shares of company stock worth $22,548,139 in the last three months. 17.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several large investors have recently made changes to their positions in HIMS. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Hims & Hers Health during the third quarter worth $604,000. Carnegie Investment Counsel acquired a new stake in shares of Hims & Hers Health during the third quarter valued at approximately $5,531,000. Main Management ETF Advisors LLC purchased a new stake in shares of Hims & Hers Health in the 3rd quarter valued at approximately $672,000. Royce & Associates LP lifted its position in shares of Hims & Hers Health by 17.0% in the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after acquiring an additional 49,500 shares in the last quarter. Finally, Versor Investments LP acquired a new position in Hims & Hers Health in the 3rd quarter worth approximately $634,000. 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.