Hims & Hers Health (NYSE:HIMS) Shares Down 5.7% – What’s Next?

Hims & Hers Health, Inc. (NYSE:HIMS) shares were down 5.7% during trading on Wednesday . The company traded as low as $27.83 and last traded at $27.79. Approximately 3,337,652 shares were traded during trading, a decline of 85% from the average daily volume of 22,485,807 shares. The stock had previously closed at $29.46.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HIMS. Truist Financial decreased their price target on Hims & Hers Health from $39.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Canaccord Genuity Group lifted their target price on Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler raised their price target on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Bank of America boosted their price objective on shares of Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a research report on Tuesday, March 18th. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.25.

Hims & Hers Health Price Performance

The company has a market cap of $6.07 billion, a P/E ratio of 62.05 and a beta of 1.65. The business has a 50-day moving average of $38.25 and a two-hundred day moving average of $30.52.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Equities 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, insider Soleil Boughton sold 54,153 shares of Hims & Hers Health stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $29.90, for a total transaction of $1,619,174.70. Following the completion of the sale, the insider now directly owns 165,650 shares in the company, valued at approximately $4,952,935. The trade was a 24.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total value of $7,465,960.29. Following the completion of the transaction, the chief executive officer now directly owns 97,687 shares in the company, valued at approximately $5,692,221.49. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 824,303 shares of company stock worth $31,376,661. 17.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently bought and sold shares of HIMS. SlateStone Wealth LLC boosted its holdings in shares of Hims & Hers Health by 4.0% in the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock valued at $257,000 after acquiring an additional 413 shares during the last quarter. Blume Capital Management Inc. boosted its holdings in Hims & Hers Health by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 600 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Hims & Hers Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock worth $480,000 after purchasing an additional 628 shares during the period. Cim LLC grew its position in Hims & Hers Health by 1.0% during the 4th quarter. Cim LLC now owns 71,869 shares of the company’s stock worth $1,738,000 after purchasing an additional 694 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in shares of Hims & Hers Health by 18.8% in the 4th quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock valued at $127,000 after buying an additional 833 shares during the period. 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.