Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Should You Sell?

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped down prior to trading on Monday . The stock had previously closed at $35.95, but opened at $34.11. Hims & Hers Health shares last traded at $35.21, with a volume of 5,276,855 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIMS. Canaccord Genuity Group boosted their target price on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Bank of America reissued an “underperform” rating and set a $21.00 target price on shares of Hims & Hers Health in a research note on Thursday, March 6th. Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $42.00 to $60.00 in a research report on Tuesday, February 18th. Leerink Partners increased their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 25th. Finally, BTIG Research began coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.23.

Hims & Hers Health Stock Performance

The company has a market cap of $7.70 billion, a PE ratio of 78.81 and a beta of 1.37. The stock’s 50-day simple moving average is $38.03 and its 200 day simple moving average is $27.86.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $481.14 million during the quarter, compared to analysts’ expectations of $494.56 million. On average, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity

In other Hims & Hers Health news, CEO Andrew Dudum sold 78,127 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $29.62, for a total transaction of $2,314,121.74. Following the transaction, the chief executive officer now directly owns 109,956 shares in the company, valued at approximately $3,256,896.72. This represents a 41.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 268,932 shares of Hims & Hers Health stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the sale, the insider now owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. The trade was a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 969,191 shares of company stock valued at $34,005,375 in the last three months. 17.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds have recently bought and sold shares of the company. IronOak Wealth LLC. purchased a new stake in Hims & Hers Health during the fourth quarter worth $922,000. Kilter Group LLC acquired a new position in shares of Hims & Hers Health during the 4th quarter worth $1,053,000. Cim LLC boosted its position in shares of Hims & Hers Health by 1.0% in the 4th quarter. Cim LLC now owns 71,869 shares of the company’s stock worth $1,738,000 after buying an additional 694 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Hims & Hers Health in the 4th quarter valued at about $4,900,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Hims & Hers Health during the 4th quarter valued at about $200,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.