Hims & Hers Health (NYSE:HIMS) Shares Down 5.1% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares dropped 5.1% on Wednesday following insider selling activity. The stock traded as low as $21.81 and last traded at $22.33. Approximately 6,071,314 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 9,362,292 shares. The stock had previously closed at $23.53.

Specifically, COO Melissa Baird sold 58,750 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $21.04, for a total transaction of $1,236,100.00. Following the completion of the sale, the chief operating officer now directly owns 630,166 shares in the company, valued at $13,258,692.64. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Oluyemi Okupe sold 142,886 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.93, for a total value of $4,276,577.98. Following the completion of the transaction, the chief financial officer now owns 112,186 shares in the company, valued at approximately $3,357,726.98. This trade represents a 56.02 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several equities research analysts have issued reports on HIMS shares. Canaccord Genuity Group lifted their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC started coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price target on the stock. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Finally, Imperial Capital lowered Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Hims & Hers Health presently has an average rating of “Hold” and an average price target of $20.71.

Hims & Hers Health Price Performance

The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 49.55 and a beta of 1.06. The company has a 50-day simple moving average of $20.21 and a two-hundred day simple moving average of $19.09.

Hims & Hers Health (NYSE:HIMS) last issued 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. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. During the same period last year, the firm posted ($0.04) EPS. Hims & Hers Health’s quarterly revenue was up 77.1% compared to the same quarter last year. Research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Nisa Investment Advisors LLC boosted its position in Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after acquiring an additional 1,603 shares during the period. Quest Partners LLC lifted its holdings in Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after purchasing an additional 3,507 shares during the period. CWM LLC grew its position in Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after buying an additional 1,054 shares in the last quarter. Van ECK Associates Corp acquired a new position in Hims & Hers Health during the 2nd quarter valued at about $111,000. Finally, Quarry LP raised its position in shares of Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock worth $113,000 after buying an additional 2,913 shares in the last quarter. 63.52% of the stock is owned by institutional investors.

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.