Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS) gapped down prior to trading on Tuesday . The stock had previously closed at $27.88, but opened at $26.46. Hims & Hers Health shares last traded at $27.18, with a volume of 3,419,804 shares.

Wall Street Analyst Weigh In

HIMS has been the topic of several research analyst reports. Needham & Company LLC initiated coverage on Hims & Hers Health in a research note on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective on the stock. TD Cowen upped their price target on Hims & Hers Health from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Piper Sandler reiterated a “neutral” rating and set a $21.00 price objective (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group raised their price target on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.21.

Hims & Hers Health Stock Down 4.3 %

The business has a 50-day moving average price of $19.01 and a two-hundred day moving average price of $18.60. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 60.66 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $23.16, for a total value of $54,171.24. Following the completion of the sale, the insider now owns 169,935 shares of the company’s stock, valued at $3,935,694.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the sale, the chief executive officer now directly owns 67,015 shares in the company, valued at $1,399,273.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $23.16, for a total value of $54,171.24. Following the transaction, the insider now directly owns 169,935 shares in the company, valued at approximately $3,935,694.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 854,547 shares of company stock worth $15,987,230 in the last quarter. 17.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Hims & Hers Health by 113.1% in the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after acquiring an additional 3,205,108 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in Hims & Hers Health by 3,890.5% in the 1st quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock worth $25,928,000 after buying an additional 1,634,000 shares during the last quarter. M&G Plc acquired a new position in shares of Hims & Hers Health during the 1st quarter worth approximately $8,232,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Hims & Hers Health by 164.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after purchasing an additional 328,142 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of Hims & Hers Health by 177.8% during the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after purchasing an additional 320,000 shares during the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

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.