Hims & Hers Health (NYSE:HIMS) Trading Down 3.1% – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price was down 3.1% during trading on Wednesday . The company traded as low as $37.42 and last traded at $39.22. Approximately 8,825,124 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 12,917,730 shares. The stock had previously closed at $40.49.

Analysts Set New Price Targets

HIMS has been the subject of a number of research reports. Canaccord Genuity Group raised their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft increased their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Piper Sandler upped their target price 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. Finally, TD Cowen reissued a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $37.23.

Hims & Hers Health Stock Up 1.1 %

The firm has a market capitalization of $9.09 billion, a PE ratio of 93.76 and a beta of 1.35. The stock has a 50-day simple moving average of $37.08 and a 200-day simple moving average of $27.17.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data 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. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Melissa Baird sold 85,561 shares of Hims & Hers Health stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $31.01, for a total transaction of $2,653,246.61. Following the completion of the sale, the chief operating officer now owns 630,986 shares in the company, valued at approximately $19,566,875.86. This trade represents a 11.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 4,152 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,062,011 shares of company stock worth $36,892,724. 17.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter valued at approximately $28,000. Raleigh Capital Management Inc. lifted its holdings in Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 1,100 shares during the period. Blume Capital Management Inc. raised its holdings in shares of Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after purchasing an additional 1,413 shares during the period. Finally, Summit Securities Group LLC bought a new position in Hims & Hers Health in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.