Hims & Hers Health (NYSE:HIMS) Trading Down 8.6% – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was down 8.6% during trading on Thursday . The company traded as low as $36.33 and last traded at $37.38. 11,249,067 shares traded hands during trading, a decline of 13% from the average daily volume of 12,980,799 shares. The stock had previously closed at $40.89.

Analyst Upgrades and Downgrades

HIMS has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC lifted their price target on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Citigroup reissued a “sell” rating and issued a $27.00 target price on shares of Hims & Hers Health in a research note on Thursday. Finally, Truist Financial upped their price target on Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Two equities research 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’s stock. According to MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Hold” and an average target price of $37.23.

Hims & Hers Health Trading Down 15.6 %

The stock has a market cap of $7.67 billion, a P/E ratio of 78.52 and a beta of 1.37. The company has a 50-day moving average price of $37.34 and a two-hundred day moving average price of $27.27.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $481.14 million during 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 analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In related news, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the transaction, the insider now directly owns 157,345 shares in the company, valued at $9,549,268.05. The trade was a 2.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Dudum sold 128,127 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the transaction, the chief executive officer now owns 97,687 shares in the company, valued at approximately $5,692,221.49. This trade represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,062,011 shares of company stock valued at $36,892,724. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMS. Farallon Capital Management LLC grew its stake in shares of Hims & Hers Health by 64,338.5% during the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after purchasing an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after acquiring an additional 4,145,305 shares during the last quarter. Vanguard Group Inc. raised its stake in Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after purchasing an additional 2,020,722 shares during the period. Yong Rong HK Asset Management Ltd purchased a new position in Hims & Hers Health in the fourth quarter worth approximately $41,104,000. Finally, Renaissance Technologies LLC increased its position in shares of Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares during the last quarter. Institutional investors and hedge funds 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.