Hims & Hers Health (NYSE:HIMS) Shares Down 6.1% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was down 6.1% on Friday following insider selling activity. The stock traded as low as $26.58 and last traded at $26.74. Approximately 6,779,391 shares changed hands during trading, a decline of 33% from the average daily volume of 10,044,754 shares. The stock had previously closed at $28.49.

Specifically, insider Michael Chi sold 17,303 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $27.97, for a total value of $483,964.91. Following the transaction, the insider now directly owns 193,601 shares in the company, valued at $5,415,019.97. This trade represents a 8.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Oluyemi Okupe sold 4,213 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $29.98, for a total value of $126,305.74. Following the completion of the transaction, the chief financial officer now directly owns 128,365 shares in the company, valued at $3,848,382.70. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Oluyemi Okupe sold 18,959 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $25.77, for a total transaction of $488,573.43. Following the completion of the transaction, the chief financial officer now directly owns 132,578 shares in the company, valued at approximately $3,416,535.06. The trade was a 12.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

A number of brokerages recently weighed in on HIMS. Deutsche Bank Aktiengesellschaft increased their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler reissued a “neutral” rating and set a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price target for the company from $32.00 to $18.00 in a report on Thursday, November 14th. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Morgan Stanley initiated coverage on Hims & Hers Health in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.80.

Hims & Hers Health Price Performance

The firm’s 50-day simple moving average is $26.37 and its 200 day simple moving average is $21.49. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 60.37 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Hims & Hers Health’s revenue was up 77.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. As a group, research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in HIMS. Principal Financial Group Inc. boosted its position in Hims & Hers Health by 102.0% in the third quarter. Principal Financial Group Inc. now owns 290,414 shares of the company’s stock valued at $5,349,000 after buying an additional 146,621 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Hims & Hers Health by 26.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 26,057 shares of the company’s stock valued at $480,000 after acquiring an additional 5,505 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Hims & Hers Health during the 3rd quarter worth $1,252,000. Geode Capital Management LLC increased its holdings in Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after purchasing an additional 482,177 shares in the last quarter. Finally, Barclays PLC raised its position in Hims & Hers Health by 9.7% in the third quarter. Barclays PLC now owns 308,363 shares of the company’s stock valued at $5,680,000 after purchasing an additional 27,231 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

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.