Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price 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.

Analysts Set New Price Targets

A number of research firms have recently commented on HIMS. Leerink Partners increased their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, February 25th. BTIG Research assumed coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Bank of America restated an “underperform” rating and issued a $21.00 price target on shares of Hims & Hers Health in a research note on Thursday. Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $42.00 to $60.00 in a report on Tuesday, February 18th. Finally, Canaccord Genuity Group lifted their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. 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 company’s stock. According to data from MarketBeat.com, Hims & Hers Health currently has an average rating of “Hold” and an average price target of $37.23.

Hims & Hers Health Stock Down 3.3 %

The firm has a market cap of $7.73 billion, a PE ratio of 79.28 and a beta of 1.37. The firm’s fifty day simple moving average is $37.64 and its two-hundred day simple moving average is $27.60.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $481.14 million for 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%. As a group, analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Hims & Hers Health

In related news, insider Soleil Boughton sold 4,152 shares of the business’s stock in a transaction on 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Chi sold 7,259 shares of Hims & Hers Health stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $32.25, for a total transaction of $234,102.75. Following the completion of the transaction, the insider now directly owns 184,947 shares of the company’s stock, valued at $5,964,540.75. The trade was a 3.78 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. bought a new position in shares of Hims & Hers Health during the 3rd quarter valued at approximately $604,000. Principal Financial Group Inc. increased its position in Hims & Hers Health by 102.0% during the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock valued at $5,349,000 after acquiring an additional 146,621 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Hims & Hers Health by 30.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 123,587 shares of the company’s stock valued at $2,276,000 after acquiring an additional 28,600 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 40.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 40,353 shares of the company’s stock worth $743,000 after acquiring an additional 11,686 shares during the last quarter. Finally, Versor Investments LP purchased a new position in shares of Hims & Hers Health during the 3rd quarter worth about $634,000. 63.52% of the stock is currently 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.