Hims & Hers Health (NYSE:HIMS) Shares Down 6.4% – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price was down 6.4% during mid-day trading on Wednesday . The company traded as low as $34.88 and last traded at $34.67. Approximately 3,761,791 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 13,892,059 shares. The stock had previously closed at $37.04.

Analyst Upgrades and Downgrades

HIMS has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Hims & Hers Health from $21.00 to $22.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 18th. Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $42.00 to $60.00 in a research report on Tuesday, February 18th. Leerink Partners increased their price target on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 25th. Needham & Company LLC increased their target price on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Piper Sandler raised their price target on Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Stock Performance

The stock has a fifty day simple moving average of $39.66 and a two-hundred day simple moving average of $29.22. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 78.79 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. Research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the transaction, the insider now directly owns 157,345 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, insider Patrick Harrison Carroll sold 23,287 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total transaction of $798,976.97. Following the sale, the insider now owns 209,661 shares of the company’s stock, valued at $7,193,468.91. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 998,244 shares of company stock valued at $35,662,485. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Institutional investors have recently bought and sold shares of the company. Farallon Capital Management LLC lifted its position 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 valued at $202,556,000 after buying an additional 8,364,000 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Hims & Hers Health by 192.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock valued at $152,436,000 after purchasing an additional 4,145,305 shares during the last quarter. Vanguard Group Inc. boosted its position 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 bought a new position in Hims & Hers Health during the fourth quarter worth about $41,104,000. Finally, Renaissance Technologies LLC increased its stake in shares of Hims & Hers Health by 29.0% in the fourth 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. 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.