Hims & Hers Health (NYSE:HIMS) Stock Price Down 3.8%

Hims & Hers Health, Inc. (NYSE:HIMS) dropped 3.8% on Wednesday . The company traded as low as $15.81 and last traded at $16.24. Approximately 4,620,692 shares traded hands during trading, a decline of 41% from the average daily volume of 7,775,788 shares. The stock had previously closed at $16.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HIMS shares. Seaport Res Ptn reiterated a “buy” rating on shares of Hims & Hers Health in a report on Friday, April 26th. Truist Financial upped their target price on Hims & Hers Health from $13.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Canaccord Genuity Group lifted their price target on shares of Hims & Hers Health from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of Hims & Hers Health in a research note on Tuesday. Finally, Citigroup cut shares of Hims & Hers Health from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $16.00 to $20.00 in a research report on Wednesday, May 22nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Hims & Hers Health Price Performance

The company has a 50 day moving average of $21.35 and a 200-day moving average of $15.86. The company has a market capitalization of $3.49 billion, a P/E ratio of -1,623.00 and a beta of 1.08.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. The firm had revenue of $315.65 million for the quarter, compared to analysts’ expectations of $302.43 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The business’s revenue was up 51.8% compared to the same quarter last year. Research analysts predict that Hims & Hers Health, Inc. will post 0.2 EPS for the current fiscal year.

Insider Transactions at Hims & Hers Health

In related news, insider Michael Chi sold 2,054 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.00, for a total value of $45,188.00. Following the completion of the transaction, the insider now directly owns 185,326 shares of the company’s stock, valued at $4,077,172. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.00, for a total transaction of $45,188.00. Following the sale, the insider now owns 185,326 shares in the company, valued at approximately $4,077,172. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Patrick Harrison Carroll sold 10,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the completion of the transaction, the insider now owns 173,880 shares of the company’s stock, valued at $2,260,440. The disclosure for this sale can be found here. In the last ninety days, insiders sold 782,901 shares of company stock valued at $16,138,997. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Hims & Hers Health by 103.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,662 shares of the company’s stock worth $389,000 after buying an additional 22,170 shares in the last quarter. Custom Index Systems LLC bought a new position in Hims & Hers Health in the 4th quarter valued at approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Hims & Hers Health by 5.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,335 shares of the company’s stock valued at $261,000 after purchasing an additional 1,561 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Hims & Hers Health by 30.7% in the 4th quarter. Russell Investments Group Ltd. now owns 167,328 shares of the company’s stock worth $1,489,000 after purchasing an additional 39,337 shares in the last quarter. Finally, Certuity LLC purchased a new position in shares of Hims & Hers Health in the fourth quarter worth $109,000. 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 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.