Hims & Hers Health (NYSE:HIMS) Shares Gap Down After Insider Selling

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $26.56, but opened at $25.54. Hims & Hers Health shares last traded at $25.13, with a volume of 2,446,829 shares changing hands.

Specifically, insider Michael Chi sold 17,303 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $27.97, for a total value of $483,964.91. Following the completion of the sale, the insider now owns 193,601 shares in the company, valued at approximately $5,415,019.97. This trade represents a 8.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Oluyemi Okupe sold 4,213 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $29.98, for a total transaction of $126,305.74. Following the completion of the sale, the chief financial officer now directly owns 128,365 shares in the company, valued at $3,848,382.70. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HIMS shares. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Morgan Stanley started coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 target price for the company. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their target price on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat, Hims & Hers Health has a consensus rating of “Hold” and an average target price of $22.80.

Hims & Hers Health Stock Performance

The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 57.11 and a beta of 1.25. The firm’s fifty day simple moving average is $26.37 and its 200 day simple moving average is $21.47.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The business had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. During the same quarter last year, the firm earned ($0.04) EPS. Hims & Hers Health’s revenue for the quarter was up 77.1% compared to the same quarter last year. Analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Hims & Hers Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC bought a new position in Hims & Hers Health during the third quarter worth about $672,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Hims & Hers Health during the 3rd quarter worth approximately $604,000. Carnegie Investment Counsel acquired a new position in shares of Hims & Hers Health during the 3rd quarter worth approximately $5,531,000. Royce & Associates LP raised its stake in Hims & Hers Health by 17.0% in the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after acquiring an additional 49,500 shares during the period. Finally, Versor Investments LP acquired a new stake in Hims & Hers Health during the 3rd quarter valued at $634,000. 63.52% of the stock is owned by institutional investors.

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.