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

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) dropped 7.7% on Friday after an insider sold shares in the company. The stock traded as low as $11.20 and last traded at $11.30. Approximately 7,689,312 shares changed hands 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, insider Soleil Boughton sold 22,839 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $10.03, for a total transaction of $229,075.17. Following the sale, the insider now owns 154,345 shares in the company, valued at approximately $1,548,080.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Melissa Baird sold 11,750 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.08, for a total transaction of $141,940.00. Following the sale, the chief operating officer now owns 538,932 shares in the company, valued at approximately $6,510,298.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Soleil Boughton sold 22,839 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $10.03, for a total transaction of $229,075.17. Following the completion of the transaction, the insider now owns 154,345 shares in the company, valued at approximately $1,548,080.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 736,191 shares of company stock worth $9,733,700. Corporate insiders own 31.63% of the company’s stock.

Wall Street Analysts Forecast Growth

HIMS has been the subject of several recent analyst reports. Canaccord Genuity Group initiated 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. Guggenheim boosted their price objective on shares of Hims & Hers Health from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. SVB Leerink assumed coverage on Hims & Hers Health in a research note on Monday, February 26th. They set a “market perform” rating and a $10.00 target price on the stock. Canaccord Genuity Group initiated coverage on 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, Seaport Res Ptn reaffirmed a “buy” rating on shares of Hims & Hers Health in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.85.

Hims & Hers Health Stock Down 8.0 %

The company has a market cap of $2.41 billion, a P/E ratio of -102.36 and a beta of 0.97. The business has a fifty day simple moving average of $14.01 and a two-hundred day simple moving average of $10.25.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 26th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. Hims & Hers Health had a negative net margin of 2.70% and a negative return on equity of 7.21%. The firm had revenue of $246.60 million during the quarter, compared to analyst estimates of $245.84 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was up 47.4% compared to the same quarter last year. On average, equities analysts predict that Hims & Hers Health, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Hims & Hers Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMS. SG Americas Securities LLC purchased a new stake in Hims & Hers Health in the 3rd quarter worth approximately $280,000. Bank of New York Mellon Corp grew its holdings in Hims & Hers Health by 11.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 564,501 shares of the company’s stock valued at $3,551,000 after buying an additional 58,288 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Hims & Hers Health by 354.2% during the 3rd quarter. Mackenzie Financial Corp now owns 51,243 shares of the company’s stock valued at $318,000 after buying an additional 39,962 shares in the last quarter. Strs Ohio grew its holdings in Hims & Hers Health by 33.0% during the 3rd quarter. Strs Ohio now owns 102,000 shares of the company’s stock valued at $641,000 after buying an additional 25,300 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Hims & Hers Health by 7.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 72,253 shares of the company’s stock valued at $454,000 after buying an additional 4,954 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.