Hims & Hers Health (NYSE:HIMS) Shares Down 8.6% - Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares fell 8.6% during trading on Thursday . The stock traded as low as $36.33 and last traded at $37.38. 11,249,067 shares changed hands during trading, a decline of 13% from the average session volume of 12,980,799 shares. The stock had previously closed at $40.89.

Analyst Upgrades and Downgrades

Several research firms have commented on HIMS. Canaccord Genuity Group upped their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Morgan Stanley downgraded Hims & Hers Health from an "overweight" rating to an "equal weight" rating and upped their price objective for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. BTIG Research began coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They set a "buy" rating and a $35.00 price objective for the company. Piper Sandler upped their price objective on Hims & Hers Health from $24.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Finally, TD Cowen reaffirmed a "buy" rating and set a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Two 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $37.23.

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Hims & Hers Health Stock Performance

The company has a market cap of $8.00 billion, a price-to-earnings ratio of 81.85 and a beta of 1.37. The company has a 50-day simple moving average of $37.64 and a 200-day simple moving average of $27.60.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, CEO Andrew Dudum sold 128,127 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the sale, the chief executive officer now owns 97,687 shares of the company's stock, valued at approximately $5,692,221.49. This represents a 56.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the sale, the insider now directly owns 169,803 shares in the company, valued at approximately $4,712,033.25. The trade was a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,062,011 shares of company stock worth $36,892,724 in the last quarter. Company insiders own 17.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IronOak Wealth LLC. purchased a new stake in Hims & Hers Health in the 4th quarter valued at approximately $922,000. Kilter Group LLC purchased a new stake in Hims & Hers Health in the 4th quarter valued at approximately $1,053,000. Cim LLC lifted its stake in Hims & Hers Health by 1.0% in the 4th quarter. Cim LLC now owns 71,869 shares of the company's stock valued at $1,738,000 after buying an additional 694 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Hims & Hers Health in the 4th quarter valued at approximately $4,900,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Hims & Hers Health in the 4th quarter valued at approximately $200,000. Hedge funds and other institutional investors own 63.52% of the company's stock.

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.