Hims & Hers Health (NYSE:HIMS) Shares Gap Down on Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price gapped down before the market opened on Tuesday following insider selling activity. 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 trading hands.

Specifically, CFO Oluyemi Okupe sold 101,993 shares of Hims & Hers Health stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.62, for a total transaction of $3,021,032.66. Following the completion of the transaction, the chief financial officer now directly owns 109,392 shares of the company’s stock, valued at $3,240,191.04. The trade was a 48.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Soleil Boughton sold 2,343 shares of Hims & Hers Health stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total transaction of $70,055.70. Following the sale, the insider now directly owns 165,254 shares of the company’s stock, valued at $4,941,094.60. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

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

Hims & Hers Health Trading Down 1.1 %

The stock has a market capitalization of $6.63 billion, a P/E ratio of 68.98 and a beta of 1.06. The company has a 50-day moving average price of $21.14 and a two-hundred day moving average price of $19.57.

Hims & Hers Health (NYSE:HIMS) last issued its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. Research analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HIMS. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 136,907 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Hims & Hers Health by 239.7% in the first 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. Strategic Wealth Partners Ltd. acquired a new stake in Hims & Hers Health in the first quarter valued at approximately $839,000. Virtu Financial LLC bought a new stake in shares of Hims & Hers Health during the first quarter valued at approximately $638,000. Finally, Farallon Capital Management LLC raised its position in shares of 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 worth $25,928,000 after purchasing an additional 1,634,000 shares during the period. 63.52% of the stock is owned by institutional investors.

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.