Hims & Hers Health (NYSE:HIMS) Shares Gap Down - Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $20.99, but opened at $20.18. Hims & Hers Health shares last traded at $21.80, with a volume of 3,416,847 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HIMS. Imperial Capital cut Hims & Hers Health from an "outperform" rating to an "in-line" rating in a report on Friday, August 9th. Needham & Company LLC began coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a "buy" rating and a $24.00 price objective for the company. Piper Sandler reaffirmed a "neutral" rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $20.71.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 50.46 and a beta of 1.06. The company's 50 day moving average is $19.90 and its 200 day moving average is $18.98.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The firm's revenue for the quarter was up 77.1% on a year-over-year basis. On average, equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Oluyemi Okupe sold 142,886 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.93, for a total value of $4,276,577.98. Following the completion of the transaction, the chief financial officer now owns 112,186 shares of the company's stock, valued at $3,357,726.98. This represents a 56.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $16.50, for a total value of $38,593.50. Following the sale, the insider now directly owns 176,952 shares in the company, valued at $2,919,708. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 996,961 shares of company stock worth $20,256,416. 17.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in shares of Hims & Hers Health by 113.1% during the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company's stock valued at $121,936,000 after acquiring an additional 3,205,108 shares during the period. Farallon Capital Management LLC boosted its position in Hims & Hers Health by 3,890.5% in the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company's stock valued at $25,928,000 after buying an additional 1,634,000 shares in the last quarter. Wellington Management Group LLP grew its stake in Hims & Hers Health by 34.5% during the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company's stock worth $63,446,000 after buying an additional 883,230 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hims & Hers Health by 12.7% during the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company's stock worth $79,029,000 after buying an additional 482,177 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Hims & Hers Health by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company's stock valued at $10,663,000 after acquiring an additional 328,142 shares during the last quarter. Institutional investors own 63.52% of the company's stock.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.

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