Hims & Hers Health (NYSE:HIMS) Trading Down 6.1% – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price dropped 6.1% on Friday . The stock traded as low as $26.58 and last traded at $26.74. Approximately 6,779,391 shares were traded during trading, a decline of 33% from the average daily volume of 10,044,754 shares. The stock had previously closed at $28.49.

Analyst Ratings Changes

A number of research firms have recently issued reports on HIMS. Deutsche Bank Aktiengesellschaft upped their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group raised their target price on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Morgan Stanley initiated coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price target on the stock. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Finally, TD Cowen reaffirmed a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.80.

Hims & Hers Health Trading Down 6.6 %

The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 60.48 and a beta of 1.25. The stock’s fifty day simple moving average is $26.29 and its 200-day simple moving average is $21.46.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $382.20 million. During the same period last year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity

In other Hims & Hers Health news, Director Anja Manuel acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average price of $26.94 per share, for a total transaction of $107,760.00. Following the acquisition, the director now owns 4,000 shares in the company, valued at $107,760. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the completion of the transaction, the chief executive officer now owns 67,015 shares in the company, valued at $1,399,273.20. This represents a 73.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,111,616 shares of company stock worth $27,448,767. 17.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

Several institutional investors have recently modified their holdings of HIMS. Quest Partners LLC lifted its position in Hims & Hers Health by 22.6% in the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after acquiring an additional 807 shares during the last quarter. CWM LLC lifted its holdings in shares of Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Hims & Hers Health by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock valued at $815,000 after purchasing an additional 1,173 shares during the period. Victory Capital Management Inc. grew its stake in Hims & Hers Health by 6.6% during the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after buying an additional 1,212 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Hims & Hers Health by 5.8% during the third quarter. Rockefeller Capital Management L.P. now owns 33,775 shares of the company’s stock worth $622,000 after buying an additional 1,864 shares during the period. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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.