Hims & Hers Health (NYSE:HIMS) Stock Falls 7.3% – What’s Next?

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price traded down 7.3% during mid-day trading on Monday. The stock traded as low as $23.91 and last traded at $24.1070. 5,199,826 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 22,010,988 shares. The stock had previously closed at $26.00.

Wall Street Analyst Weigh In

HIMS has been the topic of a number of recent research reports. Barclays cut their price objective on shares of Hims & Hers Health from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. JPMorgan Chase & Co. assumed coverage on Hims & Hers Health in a research note on Friday, September 11th. They set a “neutral” rating and a $32.00 price objective for the company. Bank of America boosted their target price on Hims & Hers Health from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Zacks Research raised Hims & Hers Health from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Needham & Company LLC raised their price target on Hims & Hers Health from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.43.

Hims & Hers Health Stock Down 7.0%

The company has a market cap of $5.64 billion, a P/E ratio of -38.36 and a beta of 2.53. The company has a debt-to-equity ratio of 4.21, a current ratio of 0.93 and a quick ratio of 0.87. The company’s 50-day moving average is $28.43 and its two-hundred day moving average is $26.94.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.32). Hims & Hers Health had a negative return on equity of 6.51% and a negative net margin of 5.51%. The business had revenue of $753.21 million during the quarter, compared to the consensus estimate of $698.90 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Hims & Hers Health’s quarterly revenue was up 38.2% compared to the same quarter last year. As a group, equities analysts predict that Hims & Hers Health, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Activity at Hims & Hers Health

In other news, COO Michael Chi sold 14,027 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $28.39, for a total value of $398,226.53. Following the completion of the sale, the chief operating officer directly owned 456,660 shares in the company, valued at $12,964,577.40. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Soleil Boughton sold 25,111 shares of Hims & Hers Health stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $27.55, for a total transaction of $691,808.05. Following the completion of the sale, the insider owned 313,964 shares of the company’s stock, valued at $8,649,708.20. This represents a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 133,905 shares of company stock worth $3,826,977 over the last quarter. 11.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its position in Hims & Hers Health by 70.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 775 shares of the company’s stock worth $27,000 after purchasing an additional 319 shares during the period. Sigma Planning Corp lifted its holdings in shares of Hims & Hers Health by 1.5% during the 1st quarter. Sigma Planning Corp now owns 26,007 shares of the company’s stock valued at $540,000 after buying an additional 388 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Hims & Hers Health by 801.2% during the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the company’s stock valued at $26,000 after buying an additional 665 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Hims & Hers Health by 5.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,756 shares of the company’s stock worth $550,000 after buying an additional 918 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Hims & Hers Health by 5.4% in the 1st quarter. D.A. Davidson & CO. now owns 19,617 shares of the company’s stock worth $407,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a consumer-focused telehealth platform that connects patients with licensed healthcare providers and offers access to treatments and wellness products. Its services include online consultations, prescription care and over-the-counter products.

The company serves a range of health needs, including hair loss, sexual health, skin care, mental health and weight management. Its platform also offers primary care and other services, with offerings varying by location and individual eligibility.

Founded in 2017, the company initially launched its Hims brand and later introduced Hers, expanding its services to a broader audience.