Hims & Hers Health (NYSE:HIMS) Trading Down 7.7% After Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) shares dropped 7.7% on Friday following insider selling activity. The company traded as low as $11.20 and last traded at $11.30. Approximately 7,689,312 shares were traded during trading, an increase of 66% from the average daily volume of 4,621,117 shares. The stock had previously closed at $12.24.

Specifically, CEO Andrew Dudum sold 97,208 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $9.58, for a total transaction of $931,252.64. Following the transaction, the chief executive officer now directly owns 51,653 shares of the company’s stock, valued at $494,835.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hims & Hers Health news, insider Soleil Boughton sold 4,080 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.03, for a total transaction of $40,922.40. Following the transaction, the insider now owns 154,345 shares in the company, valued at $1,548,080.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Dudum sold 97,208 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.58, for a total transaction of $931,252.64. Following the transaction, the chief executive officer now owns 51,653 shares in the company, valued at approximately $494,835.74. The disclosure for this sale can be found here. Insiders have sold a total of 736,191 shares of company stock valued at $9,733,700 over the last ninety days. 31.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on HIMS. Imperial Capital upgraded shares of Hims & Hers Health from an “in-line” rating to an “outperform” rating and set a $16.00 price objective on the stock in a report on Wednesday, February 28th. SVB Leerink assumed coverage on shares of Hims & Hers Health in a report on Monday, February 26th. They issued a “market perform” rating and a $10.00 target price for the company. Guggenheim increased their target price on shares of Hims & Hers Health from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Canaccord Genuity Group assumed coverage on shares of Hims & Hers Health in a report on Wednesday, April 10th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Truist Financial increased their target price on shares of Hims & Hers Health from $10.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Hims & Hers Health presently has an average rating of “Moderate Buy” and a consensus target price of $14.85.

Hims & Hers Health Price Performance

The business’s fifty day moving average is $14.01 and its 200-day moving average is $10.25. The firm has a market cap of $2.41 billion, a PE ratio of -102.36 and a beta of 0.97.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $246.60 million during the quarter, compared to the consensus estimate of $245.84 million. Hims & Hers Health had a negative net margin of 2.70% and a negative return on equity of 7.21%. The firm’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) earnings per share. Analysts forecast that Hims & Hers Health, Inc. will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new position in Hims & Hers Health during the fourth quarter worth about $48,000. Cornerstone Investment Partners LLC bought a new position in Hims & Hers Health during the first quarter worth about $161,000. EMC Capital Management boosted its position in shares of Hims & Hers Health by 80.0% in the third quarter. EMC Capital Management now owns 12,000 shares of the company’s stock valued at $79,000 after acquiring an additional 5,332 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Hims & Hers Health in the third quarter valued at approximately $76,000. Finally, Certuity LLC bought a new position in shares of Hims & Hers Health in the fourth quarter valued at approximately $109,000. Institutional investors own 63.52% of the company’s stock.

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.