Hims & Hers Health (NYSE:HIMS) Stock Price Down 7.3% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price traded down 7.3% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $32.31 and last traded at $32.16. 4,273,332 shares were traded during mid-day trading, a decline of 68% from the average session volume of 13,503,571 shares. The stock had previously closed at $34.69.

Specifically, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction on Monday, March 17th. The shares were sold at an average price of $33.98, for a total value of $4,353,755.46. Following the completion of the sale, the chief executive officer now directly owns 173,655 shares of the company’s stock, valued at approximately $5,900,796.90. The trade was a 42.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patrick Harrison Carroll sold 23,287 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $34.31, for a total value of $798,976.97. Following the transaction, the insider now directly owns 209,661 shares in the company, valued at approximately $7,193,468.91. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BTIG Research initiated coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective on the stock. Leerink Partners lifted their price target on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, February 25th. Bank of America upped their price objective on Hims & Hers Health from $21.00 to $22.00 and gave the company an “underperform” rating in a research note on Tuesday. Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Finally, Needham & Company LLC lifted their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Two equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.31.

Hims & Hers Health Stock Performance

The stock’s 50 day moving average is $38.88 and its 200 day moving average is $28.52. The company has a market capitalization of $7.52 billion, a PE ratio of 76.94 and a beta of 1.37.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds have recently bought and sold shares of the company. Main Management ETF Advisors LLC bought a new position in Hims & Hers Health in the 3rd quarter valued at $672,000. Blueshift Asset Management LLC raised its position in shares of Hims & Hers Health by 834.8% in the third quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company’s stock worth $4,513,000 after buying an additional 218,804 shares in the last quarter. Means Investment CO. Inc. boosted its stake in Hims & Hers Health by 23.5% during the fourth quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock valued at $1,210,000 after buying an additional 9,508 shares during the period. Principal Financial Group Inc. grew 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 worth $5,349,000 after buying an additional 146,621 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Hims & Hers Health in the 4th quarter worth about $2,628,000. 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 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.