Hims & Hers Health (NYSE:HIMS) Shares Gap Down - What's Next?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $28.55, but opened at $26.04. Hims & Hers Health shares last traded at $27.26, with a volume of 8,769,537 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HIMS shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. Needham & Company LLC started coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They set a "buy" rating and a $24.00 target price for the company. Bank of America downgraded shares of Hims & Hers Health from a "buy" rating to an "underperform" rating and cut their price target for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. Morgan Stanley began coverage on shares of Hims & Hers Health in a report on Tuesday. They set an "overweight" rating and a $42.00 price objective for the company. Finally, Piper Sandler reiterated a "neutral" rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Hims & Hers Health has a consensus rating of "Hold" and an average price target of $22.80.

Hims & Hers Health Trading Down 7.7 %

The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 59.91 and a beta of 1.25. The company has a 50 day simple moving average of $25.63 and a 200-day simple moving average of $21.23.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm had revenue of $401.56 million for the quarter, compared to analysts' expectations of $382.20 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The business's quarterly revenue was up 77.1% compared to the same quarter last year. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Michael Chi sold 2,054 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the sale, the insider now directly owns 184,947 shares of the company's stock, valued at approximately $6,206,821.32. This represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.41, for a total transaction of $47,738.99. Following the completion of the sale, the insider now owns 172,274 shares of the company's stock, valued at approximately $3,516,112.34. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,143,575 shares of company stock valued at $27,724,979. Corporate insiders own 17.71% of the company's stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in shares of Hims & Hers Health by 679.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company's stock valued at $37,000 after purchasing an additional 1,603 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Hims & Hers Health by 67.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company's stock valued at $13,701,000 after buying an additional 273,473 shares during the last quarter. State of Michigan Retirement System raised its holdings in Hims & Hers Health by 177.8% in the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company's stock valued at $10,095,000 after acquiring an additional 320,000 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Hims & Hers Health by 322.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 52,312 shares of the company's stock valued at $1,056,000 after acquiring an additional 39,943 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hims & Hers Health by 33.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,830 shares of the company's stock worth $562,000 after acquiring an additional 6,912 shares during the period. 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.