Hims & Hers Health (NYSE:HIMS) Trading Down 25.9% – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price dropped 25.9% during trading on Tuesday . The company traded as low as $36.48 and last traded at $38.04. Approximately 36,775,376 shares traded hands during mid-day trading, an increase of 88% from the average daily volume of 19,602,957 shares. The stock had previously closed at $51.31.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Bank of America raised their target price on shares of Hims & Hers Health from $18.00 to $21.00 and gave the company an “underperform” rating in a research note on Thursday, February 20th. BTIG Research initiated coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Needham & Company LLC boosted their price objective on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.40.

Hims & Hers Health Price Performance

The company has a market cap of $8.58 billion, a price-to-earnings ratio of 89.15 and a beta of 1.35. The stock has a 50-day moving average price of $35.45 and a 200 day moving average price of $26.08.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $481.14 million during 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%. Sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Transactions at Hims & Hers Health

In other news, CEO Andrew Dudum sold 128,127 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the completion of the transaction, the chief executive officer now directly owns 97,687 shares in the company, valued at $5,692,221.49. This trade represents a 56.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Soleil Boughton sold 4,152 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the sale, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,080,275 shares of company stock valued at $37,247,354. 17.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently made changes to their positions in HIMS. Mackenzie Financial Corp grew its stake in Hims & Hers Health by 44.6% in the 4th quarter. Mackenzie Financial Corp now owns 29,096 shares of the company’s stock valued at $704,000 after purchasing an additional 8,977 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Hims & Hers Health in the fourth quarter worth $99,000. Neo Ivy Capital Management raised its holdings in shares of Hims & Hers Health by 145.4% in the 4th quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock valued at $4,031,000 after acquiring an additional 98,798 shares in the last quarter. PharVision Advisers LLC bought a new stake in Hims & Hers Health during the fourth quarter valued at approximately $234,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hims & Hers Health by 31.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 340,156 shares of the company’s stock worth $8,225,000 after acquiring an additional 81,495 shares in the last quarter. 63.52% of the stock is owned by 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.