Hims & Hers Health (NYSE:HIMS) Stock Price Down 28.5% – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) traded down 28.5% during trading on Monday . The stock traded as low as $43.13 and last traded at $45.93. 81,530,878 shares traded hands during mid-day trading, an increase of 273% from the average session volume of 21,860,180 shares. The stock had previously closed at $64.22.

Analyst Upgrades and Downgrades

A number of research firms have commented on HIMS. Citigroup reiterated a “sell” rating and issued a $30.00 price objective (up previously from $25.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Hims & Hers Health in a report on Tuesday, May 6th. Wall Street Zen upgraded Hims & Hers Health from a “hold” rating to a “buy” rating in a research report on Sunday, June 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Hims & Hers Health in a report on Wednesday, May 7th. Finally, Truist Financial cut their target price 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health currently has an average rating of “Hold” and an average price target of $38.00.

Hims & Hers Health Stock Performance

The company has a 50-day moving average of $48.43 and a 200-day moving average of $39.27. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 63.76, a P/E/G ratio of 2.42 and a beta of 2.09.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The company’s quarterly revenue was up 110.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. As a group, analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In related news, insider Irene Becklund sold 8,485 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total transaction of $506,978.75. Following the completion of the sale, the insider now owns 712 shares of the company’s stock, valued at $42,542. This represents a 92.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Melissa Baird sold 33,333 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $25.78, for a total transaction of $859,324.74. Following the completion of the transaction, the chief operating officer now directly owns 805,083 shares in the company, valued at $20,755,039.74. This represents a 3.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 751,034 shares of company stock valued at $36,486,522. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in Hims & Hers Health by 15.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,672 shares of the company’s stock valued at $49,000 after buying an additional 227 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Hims & Hers Health by 20.0% in the 1st quarter. Allworth Financial LP now owns 2,006 shares of the company’s stock worth $56,000 after acquiring an additional 334 shares during the period. Signaturefd LLC boosted its holdings in shares of Hims & Hers Health by 17.7% in the first quarter. Signaturefd LLC now owns 2,586 shares of the company’s stock valued at $76,000 after acquiring an additional 388 shares in the last quarter. SlateStone Wealth LLC increased its stake in shares of Hims & Hers Health by 4.0% during the fourth 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 period. Finally, Kilter Group LLC increased its stake in shares of Hims & Hers Health by 1.0% during the first quarter. Kilter Group LLC now owns 43,989 shares of the company’s stock valued at $1,300,000 after acquiring an additional 450 shares during the period. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Company Profile

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.