Hims & Hers Health (NYSE:HIMS) Trading Down 5.1% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares were down 5.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $21.81 and last traded at $22.33. Approximately 6,071,314 shares traded hands during trading, a decline of 35% from the average daily volume of 9,362,292 shares. The stock had previously closed at $23.53.

Specifically, COO Melissa Baird sold 58,750 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $21.04, for a total value of $1,236,100.00. Following the transaction, the chief operating officer now owns 630,166 shares of the company’s stock, valued at $13,258,692.64. This represents a 8.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Oluyemi Okupe sold 142,886 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.93, for a total value of $4,276,577.98. Following the sale, the chief financial officer now directly owns 112,186 shares of the company’s stock, valued at $3,357,726.98. The trade was a 56.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

HIMS has been the subject of several research analyst reports. Needham & Company LLC began coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price for the company. Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. TD Cowen reissued a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Finally, Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.71.

Hims & Hers Health Stock Performance

The business has a 50-day simple moving average of $20.37 and a 200-day simple moving average of $19.12. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 54.40 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping 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 firm had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. Research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Hims & Hers Health by 1.0% in the first quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock valued at $221,379,000 after buying an additional 136,907 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Hims & Hers Health by 113.1% in the 2nd 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 last quarter. State Street Corp raised its position in shares of Hims & Hers Health by 4.7% during the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after acquiring an additional 206,078 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after acquiring an additional 482,177 shares in the last quarter. Finally, Wellington Management Group LLP lifted 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 purchasing an additional 883,230 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.