Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Here’s What Happened

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) gapped down prior to trading on Tuesday . The stock had previously closed at $40.68, but opened at $37.99. Hims & Hers Health shares last traded at $37.10, with a volume of 5,874,903 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC boosted their price target on shares of Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Citigroup boosted their target price on Hims & Hers Health from $25.00 to $27.00 and gave the company a “sell” rating in a research note on Tuesday, February 25th. Piper Sandler raised their price target on Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. TD Cowen reiterated a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Hold” and a consensus price target of $37.23.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 95.27 and a beta of 1.35. The business’s 50 day moving average is $36.83 and its 200-day moving average is $26.99.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $481.14 million for the quarter, compared to the consensus estimate of $494.56 million. Equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael Chi sold 7,259 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $24.07, for a total transaction of $174,724.13. Following the sale, the insider now directly owns 193,601 shares in the company, valued at approximately $4,659,976.07. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction on 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 sale, the chief executive officer now owns 97,687 shares in the company, valued at $5,692,221.49. This represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,062,011 shares of company stock valued at $36,892,724. 17.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its holdings in shares of Hims & Hers Health by 18.1% in the 3rd quarter. Creative Planning now owns 25,925 shares of the company’s stock worth $478,000 after buying an additional 3,979 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Hims & Hers Health during the third quarter valued at $604,000. QRG Capital Management Inc. boosted its stake in shares of Hims & Hers Health by 3.9% in the 3rd quarter. QRG Capital Management Inc. now owns 162,029 shares of the company’s stock valued at $2,985,000 after purchasing an additional 6,077 shares in the last quarter. Olympiad Research LP bought a new stake in shares of Hims & Hers Health in the 3rd quarter worth about $262,000. Finally, Principal Financial Group Inc. increased its position in shares of Hims & Hers Health by 102.0% during the 3rd quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock worth $5,349,000 after purchasing an additional 146,621 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.