Hims & Hers Health (NYSE:HIMS) Shares Down 2.9% – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price traded down 2.9% on Wednesday . The company traded as low as $32.77 and last traded at $33.69. 9,787,412 shares changed hands during trading, a decline of 26% from the average session volume of 13,307,679 shares. The stock had previously closed at $34.71.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Canaccord Genuity Group increased their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC increased their price target 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. TD Cowen reiterated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, BTIG Research assumed coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. 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 stock currently has a consensus rating of “Hold” and a consensus price target of $37.23.

Hims & Hers Health Stock Up 2.3 %

The company has a market capitalization of $7.17 billion, a PE ratio of 72.18 and a beta of 1.37. The company’s 50 day moving average is $38.36 and its two-hundred day moving average is $27.92.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $481.14 million during the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 4,152 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now owns 157,345 shares in the company, valued at $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Dudum sold 78,127 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $29.62, for a total transaction of $2,314,121.74. Following the completion of the sale, the chief executive officer now owns 109,956 shares of the company’s stock, valued at $3,256,896.72. This trade represents a 41.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 969,191 shares of company stock valued at $34,005,375. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in Hims & Hers Health during the 4th quarter valued at about $28,000. Raleigh Capital Management Inc. grew its position in Hims & Hers Health by 1,100.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,100 shares during the last quarter. Blume Capital Management Inc. lifted its stake in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the period. Smartleaf Asset Management LLC lifted its stake in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after acquiring an additional 1,413 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of Hims & Hers Health in the 4th quarter valued at $38,000. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

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.