Hims & Hers Health (NYSE:HIMS) Shares Down 3.1% - Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares dropped 3.1% during mid-day trading on Wednesday . The company traded as low as $37.42 and last traded at $39.22. Approximately 8,825,124 shares were traded during trading, a decline of 32% from the average daily volume of 12,917,730 shares. The stock had previously closed at $40.49.

Wall Street Analysts Forecast Growth

HIMS has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of 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 lifted their price objective for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. BTIG Research started coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a "buy" rating and a $35.00 price objective on the stock. Citigroup restated a "sell" rating and issued a $27.00 price target on shares of Hims & Hers Health in a research note on Thursday. Finally, Bank of America restated an "underperform" rating and issued a $21.00 price target on shares of Hims & Hers Health in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $37.23.

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Hims & Hers Health Price Performance

The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 81.85 and a beta of 1.37. The business's fifty day simple moving average is $37.64 and its 200 day simple moving average is $27.53.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. As a group, equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Soleil Boughton sold 4,152 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now owns 157,345 shares of the company's stock, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Chi sold 7,259 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $32.25, for a total transaction of $234,102.75. Following the transaction, the insider now directly owns 184,947 shares of the company's stock, valued at approximately $5,964,540.75. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,062,011 shares of company stock valued at $36,892,724 over the last 90 days. 17.71% of the stock is 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 company. IronOak Wealth LLC. acquired a new position in shares of Hims & Hers Health during the fourth quarter valued at $922,000. Kilter Group LLC acquired a new stake in Hims & Hers Health in the fourth quarter worth about $1,053,000. Cim LLC lifted its holdings in Hims & Hers Health by 1.0% in the fourth quarter. Cim LLC now owns 71,869 shares of the company's stock worth $1,738,000 after purchasing an additional 694 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Hims & Hers Health in the fourth quarter worth about $4,900,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Hims & Hers Health in the fourth quarter worth about $200,000. Institutional investors and hedge funds own 63.52% of the company's stock.

About Hims & Hers Health

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.