Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.4% - Here's Why

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) traded down 5.4% on Thursday . The company traded as low as $31.01 and last traded at $32.09. 9,594,817 shares traded hands during trading, a decline of 28% from the average session volume of 13,373,186 shares. The stock had previously closed at $33.93.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price target on Hims & Hers Health from $24.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Canaccord Genuity Group raised their price target on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Truist Financial raised their price target on Hims & Hers Health from $24.00 to $39.00 and gave the company a "hold" rating in a research report on Wednesday, February 26th. Bank of America restated an "underperform" rating and set a $21.00 price target on shares of Hims & Hers Health in a research report on Thursday, March 6th. Finally, Leerink Partners raised their price target on Hims & Hers Health from $24.00 to $40.00 and gave the company a "market perform" rating in a research report 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 data from MarketBeat, Hims & Hers Health has a consensus rating of "Hold" and a consensus price target of $37.23.

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Hims & Hers Health Price Performance

The company has a market capitalization of $7.35 billion, a P/E ratio of 75.24 and a beta of 1.37. The company has a 50 day moving average of $38.49 and a 200-day moving average of $28.13.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $481.14 million for the quarter, compared to analysts' expectations of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Soleil Boughton sold 268,932 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.75, for a total value of $7,462,863.00. Following the sale, the insider now directly owns 169,803 shares of the company's stock, valued at $4,712,033.25. The trade was a 61.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Dudum sold 78,127 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.62, for a total value of $2,314,121.74. Following the completion of the sale, the chief executive officer now directly owns 109,956 shares in the company, valued at approximately $3,256,896.72. This represents a 41.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 969,191 shares of company stock valued at $34,005,375. 17.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds have recently added to or reduced their stakes in HIMS. Principal Financial Group Inc. raised its holdings in Hims & Hers Health by 102.0% in the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company's stock worth $5,349,000 after acquiring an additional 146,621 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Hims & Hers Health by 40.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 40,353 shares of the company's stock worth $743,000 after acquiring an additional 11,686 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Hims & Hers Health by 164.9% in the 3rd quarter. Victory Capital Management Inc. now owns 51,577 shares of the company's stock worth $950,000 after acquiring an additional 32,108 shares during the last quarter. Royce & Associates LP raised its holdings in Hims & Hers Health by 17.0% in the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company's stock worth $6,281,000 after acquiring an additional 49,500 shares during the last quarter. Finally, Quest Partners LLC raised its stake in Hims & Hers Health by 22.6% during the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company's stock valued at $81,000 after buying an additional 807 shares during the last quarter. 63.52% of the stock is currently owned by hedge funds and other 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.