Hims & Hers Health (NYSE:HIMS) Shares Down 2.7% Following Insider Selling

Hims & Hers Health, Inc. (NYSE:HIMS) was down 2.7% on Monday after an insider sold shares in the company. The stock traded as low as $49.07 and last traded at $49.04. Approximately 7,874,058 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 24,147,150 shares. The stock had previously closed at $50.38.

Specifically, CEO Andrew Dudum sold 47,534 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $50.25, for a total value of $2,388,583.50. Following the completion of the transaction, the chief executive officer directly owned 190,126 shares of the company’s stock, valued at approximately $9,553,831.50. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 2,792 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $50.58, for a total transaction of $141,219.36. Following the completion of the transaction, the chief executive officer directly owned 92,313 shares of the company’s stock, valued at $4,669,191.54. The trade was a 2.94% 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 firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $47.70, for a total transaction of $552,413.70. Following the sale, the chief financial officer owned 54,084 shares in the company, valued at approximately $2,579,806.80. This trade represents a 17.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HIMS shares. Morgan Stanley restated an “equal weight” rating and set a $40.00 target price on shares of Hims & Hers Health in a report on Wednesday, June 11th. Truist Financial lifted their target price on shares of Hims & Hers Health from $45.00 to $48.00 and gave the company a “hold” rating in a report on Thursday. Wall Street Zen upgraded shares of Hims & Hers Health from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group set a $30.00 target price on shares of Hims & Hers Health in a report on Monday, June 23rd. Finally, Bank of America lifted their price target on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Hims & Hers Health currently has an average rating of “Hold” and a consensus target price of $39.83.

Hims & Hers Health Price Performance

The firm has a market cap of $10.99 billion, a P/E ratio of 71.07, a PEG ratio of 1.85 and a beta of 2.02. The stock’s 50 day moving average is $53.82 and its two-hundred day moving average is $42.04.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The firm had revenue of $586.01 million for the quarter, compared to analysts’ expectations of $535.21 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The company’s quarterly revenue was up 110.7% compared to the same quarter last year. As a group, research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Hims & Hers Health

A number of large investors have recently modified their holdings of HIMS. Commonwealth Equity Services LLC lifted its holdings in Hims & Hers Health by 111.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 58,894 shares of the company’s stock valued at $1,424,000 after buying an additional 31,062 shares during the period. Natixis Advisors LLC acquired a new position in Hims & Hers Health in the fourth quarter valued at approximately $617,000. Harbour Investments Inc. lifted its holdings in Hims & Hers Health by 18.8% in the fourth quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock valued at $127,000 after buying an additional 833 shares during the period. Cibc World Markets Corp bought a new stake in Hims & Hers Health in the fourth quarter valued at approximately $429,000. Finally, Thrivent Financial for Lutherans bought a new stake in Hims & Hers Health in the fourth quarter valued at approximately $3,573,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

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.