Hims & Hers Health (NYSE:HIMS) Stock Price Down 5%

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) traded down 5% during trading on Friday . The stock traded as low as $16.06 and last traded at $16.07. 2,806,199 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 7,722,323 shares. The stock had previously closed at $16.92.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HIMS. Deutsche Bank Aktiengesellschaft lifted their price target on Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Bank of America decreased their target price on Hims & Hers Health from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Jefferies Financial Group increased their target price on shares of Hims & Hers Health from $14.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, June 27th. Truist Financial lifted their price target on shares of Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC initiated coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.86.

Hims & Hers Health Stock Down 5.6 %

The stock has a market capitalization of $3.43 billion, a PE ratio of -1,584.00 and a beta of 1.05. The firm has a 50 day moving average price of $17.54 and a 200 day moving average price of $17.04.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Hims & Hers Health had a net margin of 1.70% and a return on equity of 5.25%. The business 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 company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 51.8% compared to the same quarter last year. On average, equities analysts forecast that Hims & Hers Health, Inc. will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Soleil Boughton sold 2,339 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total transaction of $38,593.50. Following the completion of the transaction, the insider now owns 176,952 shares of the company’s stock, valued at $2,919,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Soleil Boughton sold 2,339 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total transaction of $38,593.50. Following the transaction, the insider now directly owns 176,952 shares of the company’s stock, valued at approximately $2,919,708. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $20.75, for a total value of $3,919,426.00. Following the completion of the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at approximately $695,166.50. The disclosure for this sale can be found here. Insiders have sold a total of 701,904 shares of company stock worth $12,349,805 over the last 90 days. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HIMS. Renaissance Technologies LLC boosted its stake in Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after purchasing an additional 3,205,108 shares during the last quarter. Farallon Capital Management LLC lifted its position in Hims & Hers Health by 3,890.5% during the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock valued at $25,928,000 after purchasing an additional 1,634,000 shares during the period. M&G Plc bought a new position in Hims & Hers Health during the first quarter valued at approximately $8,232,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Hims & Hers Health by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after purchasing an additional 328,142 shares during the last quarter. Finally, State of Michigan Retirement System grew its position in Hims & Hers Health by 177.8% in the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after purchasing an additional 320,000 shares during the period. 63.52% of the stock is currently 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.