Hims & Hers Health (NYSE:HIMS) Trading Down 5.9% - Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) was down 5.9% during trading on Tuesday . The stock traded as low as $57.61 and last traded at $56.91. Approximately 5,781,827 shares were traded during trading, a decline of 57% from the average daily volume of 13,390,774 shares. The stock had previously closed at $60.47.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HIMS shares. Morgan Stanley downgraded Hims & Hers Health from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $42.00 to $60.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. Bank of America raised their price target on shares of Hims & Hers Health from $18.00 to $21.00 and gave the company an "underperform" rating in a research report on Thursday. TD Cowen reaffirmed a "buy" rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Citigroup cut shares of Hims & Hers Health from a "neutral" rating to a "sell" rating and raised their price target for the company from $24.00 to $25.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Hims & Hers Health currently has an average rating of "Hold" and a consensus price target of $28.53.

Hims & Hers Health Stock Performance

The company's 50 day moving average price is $35.05 and its 200-day moving average price is $25.70. The company has a market cap of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 33,513 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the completion of the transaction, the chief executive officer now owns 33,502 shares in the company, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Melissa Baird sold 85,561 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 1,184,611 shares of company stock worth $40,338,442 in the last quarter. Insiders own 17.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of large investors have recently made changes to their positions in HIMS. CWM LLC boosted its holdings in shares of Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company's stock worth $110,000 after acquiring an additional 1,054 shares during the period. Creative Planning boosted its holdings in shares of Hims & Hers Health by 18.1% in the third quarter. Creative Planning now owns 25,925 shares of the company's stock worth $478,000 after acquiring an additional 3,979 shares during the period. Venture Visionary Partners LLC bought a new position in shares of Hims & Hers Health in the third quarter worth $238,000. International Assets Investment Management LLC bought a new position in shares of Hims & Hers Health in the third quarter worth $6,790,000. Finally, Dakota Wealth Management bought a new stake in Hims & Hers Health during the 3rd quarter worth approximately $245,000. 63.52% of the stock is 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.