Hims & Hers Health (NYSE:HIMS) Trading Down 2.3% After Analyst Downgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price fell 2.3% on Monday after Truist Financial lowered their price target on the stock from $48.00 to $37.00. Truist Financial currently has a hold rating on the stock. Hims & Hers Health traded as low as $44.55 and last traded at $44.96. 7,048,217 shares were traded during trading, a decline of 79% from the average session volume of 33,829,633 shares. The stock had previously closed at $46.02.

Several other research firms have also commented on HIMS. Piper Sandler reiterated a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Wall Street Zen lowered Hims & Hers Health from a “buy” rating to a “hold” rating in a research report on Monday, July 28th. Needham & Company LLC reiterated a “hold” rating on shares of Hims & Hers Health in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Finally, UBS Group set a $30.00 target price on Hims & Hers Health in a research report on Monday, June 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Hold” and an average target price of $38.92.

Insider Buying and Selling at Hims & Hers Health

In related news, insider Michael Chi sold 2,100 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $57.52, for a total value of $120,792.00. Following the transaction, the insider directly owned 278,654 shares of the company’s stock, valued at approximately $16,028,178.08. This trade represents a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 2,572 shares of Hims & Hers Health stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $51.64, for a total value of $132,818.08. Following the completion of the sale, the insider owned 153,021 shares in the company, valued at approximately $7,902,004.44. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,273,034 shares of company stock valued at $66,425,573 in the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several institutional investors have recently bought and sold shares of HIMS. Envestnet Asset Management Inc. boosted its holdings in Hims & Hers Health by 139.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 78,686 shares of the company’s stock worth $1,903,000 after buying an additional 45,791 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Hims & Hers Health in the 4th quarter worth approximately $18,048,000. Barclays PLC lifted its stake in Hims & Hers Health by 48.3% in the 4th quarter. Barclays PLC now owns 457,246 shares of the company’s stock worth $11,056,000 after purchasing an additional 148,883 shares in the last quarter. Mariner LLC lifted its stake in Hims & Hers Health by 77.4% in the 4th quarter. Mariner LLC now owns 19,943 shares of the company’s stock worth $482,000 after purchasing an additional 8,699 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new position in Hims & Hers Health in the 4th quarter worth approximately $274,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Price Performance

The company has a debt-to-equity ratio of 1.72, a quick ratio of 4.46 and a current ratio of 4.98. The stock’s 50 day simple moving average is $52.72 and its two-hundred day simple moving average is $45.77. The firm has a market capitalization of $10.20 billion, a PE ratio of 56.44, a price-to-earnings-growth ratio of 2.91 and a beta of 2.08.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, August 4th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Hims & Hers Health had a return on equity of 26.26% and a net margin of 9.63%. The business had revenue of $544.83 million during the quarter, compared to analysts’ expectations of $550.06 million. During the same period last year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 72.6% compared to the same quarter last year. On average, sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

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.