Hims & Hers Health (NYSE:HIMS) Shares Down 2% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) traded down 2% during trading on Tuesday following insider selling activity. The stock traded as low as $60.70 and last traded at $61.10. 10,278,372 shares were traded during trading, a decline of 47% from the average session volume of 19,431,837 shares. The stock had previously closed at $62.34.

Specifically, CEO Andrew Dudum sold 47,534 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $58.25, for a total transaction of $2,768,855.50. Following the transaction, the chief executive officer now directly owns 285,194 shares of the company’s stock, valued at $16,612,550.50. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $58.40, for a total transaction of $7,482,616.80. Following the sale, the chief executive officer now directly owns 89,311 shares of the company’s stock, valued at $5,215,762.40. This represents a 58.93% decrease in their position. The disclosure for this sale can be found here. In related news, CFO Oluyemi Okupe sold 11,581 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.22, for a total transaction of $697,407.82. Following the completion of the transaction, the chief financial officer now owns 113,816 shares in the company, valued at $6,853,999.52. This represents a 9.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Canaccord Genuity Group boosted their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Truist Financial dropped their price target on Hims & Hers Health from $39.00 to $33.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Needham & Company LLC reissued a “buy” rating and issued a $61.00 price objective on shares of Hims & Hers Health in a research note on Tuesday, May 6th. TD Cowen cut shares of Hims & Hers Health from a “buy” rating to a “hold” rating and lowered their target price for the stock from $44.00 to $30.00 in a research note on Tuesday, April 29th. Finally, Morgan Stanley dropped their target price on shares of Hims & Hers Health from $60.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.67.

Hims & Hers Health Price Performance

The company has a market capitalization of $13.70 billion, a PE ratio of 139.12 and a beta of 1.84. The business’s 50 day simple moving average is $36.60 and its 200 day simple moving average is $34.38.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business’s revenue was up 110.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. As a group, analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIMS. Means Investment CO. Inc. increased its position in shares of Hims & Hers Health by 23.5% during the 4th quarter. Means Investment CO. Inc. now owns 50,040 shares of the company’s stock worth $1,210,000 after purchasing an additional 9,508 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Hims & Hers Health during the fourth quarter worth about $18,048,000. State of Alaska Department of Revenue acquired a new stake in shares of Hims & Hers Health during the fourth quarter valued at about $2,628,000. Pacer Advisors Inc. acquired a new stake in shares of Hims & Hers Health during the fourth quarter valued at about $374,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Hims & Hers Health in the 4th quarter valued at approximately $2,234,000. Hedge funds and other 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.