Hims & Hers Health (NYSE:HIMS) Shares Down 25.9% – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) was down 25.9% during trading on Tuesday . The stock traded as low as $36.48 and last traded at $38.04. Approximately 36,775,376 shares were traded 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.

Analysts Set New Price Targets

A number of brokerages recently commented on HIMS. Needham & Company LLC raised their price target on Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler upped their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America boosted their target price on Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a research report on Thursday, February 20th. Citigroup raised their price target on Hims & Hers Health from $25.00 to $27.00 and gave the stock a “sell” rating in a research note on Tuesday. Finally, Leerink Partners upped their target price 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.40.

Hims & Hers Health Trading Down 23.5 %

The firm has a market capitalization of $8.58 billion, a PE ratio of 89.15 and a beta of 1.35. The company has a fifty day moving average price of $35.45 and a two-hundred day moving average price of $26.08.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $481.14 million for the quarter, compared to analyst estimates 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, equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 128,127 shares of the business’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 sale, the chief executive officer now owns 97,687 shares of the company’s stock, valued at approximately $5,692,221.49. The trade was a 56.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the sale, the insider now directly owns 169,803 shares of the company’s stock, valued at $4,712,033.25. The trade was a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,080,275 shares of company stock valued at $37,247,354 over the last three months. 17.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC bought a new position in Hims & Hers Health in the 4th quarter valued at about $28,000. Raleigh Capital Management Inc. lifted its position in shares of Hims & Hers Health by 1,100.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,100 shares in the last quarter. Blume Capital Management Inc. lifted its position in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Hims & Hers Health by 4,415.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after purchasing an additional 1,413 shares during the period. Finally, Summit Securities Group LLC purchased a new position in Hims & Hers Health during the 4th quarter worth approximately $38,000. 63.52% of the stock is currently owned by institutional investors.

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.