Hims & Hers Health (NYSE:HIMS) Trading Down 6.1% on Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) dropped 6.1% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $26.58 and last traded at $26.74. Approximately 6,779,391 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 10,044,754 shares. The stock had previously closed at $28.49.

Specifically, insider Michael Chi sold 17,303 shares of Hims & Hers Health stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $27.97, for a total transaction of $483,964.91. Following the completion of the sale, the insider now directly owns 193,601 shares in the company, valued at $5,415,019.97. This trade represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Oluyemi Okupe sold 4,213 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $29.98, for a total transaction of $126,305.74. Following the transaction, the chief financial officer now directly owns 128,365 shares of the company’s stock, valued at $3,848,382.70. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. In other Hims & Hers Health news, CFO Oluyemi Okupe sold 18,959 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $25.77, for a total transaction of $488,573.43. Following the transaction, the chief financial officer now directly owns 132,578 shares in the company, valued at $3,416,535.06. This represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several research firms recently issued reports on HIMS. Deutsche Bank Aktiengesellschaft boosted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Piper Sandler reissued a “neutral” rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. TD Cowen restated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Morgan Stanley assumed coverage on shares of Hims & Hers Health in a report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Stock Down 6.8 %

The company has a market cap of $5.80 billion, a price-to-earnings ratio of 60.37 and a beta of 1.25. The business’s fifty day simple moving average is $26.37 and its two-hundred day simple moving average is $21.49.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating 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 the consensus estimate of $382.20 million. During the same period last year, the firm posted ($0.04) EPS. The company’s revenue was up 77.1% on a year-over-year basis. Sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Hims & Hers Health

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in Hims & Hers Health by 113.1% in the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after buying an additional 3,205,108 shares during the last quarter. State Street Corp raised its position in Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after purchasing an additional 206,078 shares during the last quarter. Geode Capital Management LLC grew its position in 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 purchasing an additional 482,177 shares during the last quarter. Wellington Management Group LLP increased its stake in Hims & Hers Health by 34.5% in the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after purchasing an additional 883,230 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Hims & Hers Health by 15.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock valued at $30,714,000 after buying an additional 218,566 shares during the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

About Hims & Hers Health

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.