Hims & Hers Health (NYSE:HIMS) Shares Down 7.6% – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price traded down 7.6% during mid-day trading on Tuesday . The company traded as low as $36.81 and last traded at $37.58. 9,372,761 shares were traded during mid-day trading, a decline of 27% from the average session volume of 12,882,544 shares. The stock had previously closed at $40.68.

Analyst Ratings Changes

A number of brokerages have commented on HIMS. Truist Financial raised their price objective on Hims & Hers Health from $24.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Morgan Stanley lowered shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Citigroup raised their price objective on shares of Hims & Hers Health from $25.00 to $27.00 and gave the company a “sell” rating in a research note on Tuesday, February 25th. Canaccord Genuity Group upped their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Piper Sandler lifted their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.23.

Hims & Hers Health Stock Down 0.2 %

The company has a market cap of $9.02 billion, a P/E ratio of 92.31 and a beta of 1.35. The company’s 50-day moving average is $36.83 and its two-hundred day moving average is $26.99.

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

Insider Activity

In related news, COO Melissa Baird sold 85,561 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $31.01, for a total value of $2,653,246.61. Following the completion of the transaction, the chief operating officer now directly owns 630,986 shares in the company, valued at approximately $19,566,875.86. The trade was a 11.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Chi sold 17,303 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $48.14, for a total value of $832,966.42. Following the sale, the insider now owns 193,601 shares in the company, valued at approximately $9,319,952.14. This represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,062,011 shares of company stock valued at $36,892,724 in the last 90 days. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HIMS. Vanguard Group Inc. boosted its position in shares of Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after acquiring an additional 2,020,722 shares during the period. Farallon Capital Management LLC lifted its stake in Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock worth $202,556,000 after purchasing an additional 8,364,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Hims & Hers Health by 29.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock valued at $168,079,000 after purchasing an additional 1,562,302 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Hims & Hers Health by 192.0% in the 4th 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 period. Finally, State Street Corp grew its position in shares of Hims & Hers Health by 4.7% during 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. 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.