Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.4% – What’s Next?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price was down 5.4% during mid-day trading on Thursday . The company traded as low as $31.01 and last traded at $32.09. Approximately 9,594,817 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 13,373,186 shares. The stock had previously closed at $33.93.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HIMS shares. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Bank of America restated an “underperform” rating and set a $21.00 price target on shares of Hims & Hers Health in a research report on Thursday, March 6th. Canaccord Genuity Group boosted their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. BTIG Research began coverage on Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Finally, Citigroup reiterated a “sell” rating and set a $27.00 price target on shares of Hims & Hers Health in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.23.

Hims & Hers Health Stock Performance

The firm’s 50-day moving average price is $38.23 and its two-hundred day moving average price is $27.90. The firm has a market cap of $6.95 billion, a PE ratio of 71.24 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million for 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, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Michael Chi sold 7,500 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $26.00, for a total transaction of $195,000.00. Following the completion of the transaction, the insider now owns 193,601 shares in the company, valued at approximately $5,033,626. This represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 78,127 shares of Hims & Hers Health stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $29.62, for a total transaction of $2,314,121.74. Following the completion of the sale, the chief executive officer now directly owns 109,956 shares in the company, valued at approximately $3,256,896.72. The trade was a 41.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 969,191 shares of company stock valued at $34,005,375. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Hims & Hers Health by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after buying an additional 2,020,722 shares during the period. Farallon Capital Management LLC lifted its holdings in Hims & Hers Health by 64,338.5% in the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock valued at $202,556,000 after acquiring an additional 8,364,000 shares during the period. Renaissance Technologies LLC boosted 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after purchasing an additional 4,145,305 shares during the period. Finally, State Street Corp increased its holdings in shares of Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after purchasing an additional 206,078 shares in 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.