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

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $31.35, but opened at $29.90. Hims & Hers Health shares last traded at $29.83, with a volume of 3,359,925 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on HIMS. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their target price for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. TD Cowen restated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price on the stock. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their price target on shares of Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.71.

Hims & Hers Health Stock Down 2.8 %

The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 67.14 and a beta of 1.06. The stock’s 50 day moving average price is $20.85 and its two-hundred day moving average price is $19.44.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) 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 the consensus estimate of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’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. On average, analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 142,886 shares of Hims & Hers Health stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.93, for a total transaction of $4,276,577.98. Following the completion of the sale, the chief financial officer now directly owns 112,186 shares in the company, valued at $3,357,726.98. This trade represents a 56.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total transaction of $2,750,209.28. Following the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at approximately $487,789.12. This represents a 84.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,049,183 shares of company stock valued at $21,395,632 over the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Sei Investments Co. grew its holdings in Hims & Hers Health by 206.9% during the 1st quarter. Sei Investments Co. now owns 56,202 shares of the company’s stock worth $869,000 after acquiring an additional 37,890 shares in the last quarter. Vanguard Group Inc. grew its holdings in Hims & Hers Health by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 14,310,192 shares of the company’s stock worth $221,379,000 after acquiring an additional 136,907 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Hims & Hers Health by 239.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 168,427 shares of the company’s stock worth $2,606,000 after acquiring an additional 118,848 shares in the last quarter. SVB Wealth LLC acquired a new position in Hims & Hers Health during the 1st quarter worth approximately $421,000. Finally, Strategic Wealth Partners Ltd. acquired a new position in Hims & Hers Health during the 1st quarter worth approximately $839,000. Institutional investors and hedge funds 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.