Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.9% – Here’s What Happened

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) dropped 5.9% during trading on Tuesday . The company traded as low as $57.61 and last traded at $56.91. Approximately 5,781,827 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 13,390,774 shares. The stock had previously closed at $60.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HIMS shares. BTIG Research started coverage on Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. TD Cowen reissued a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Canaccord Genuity Group increased their target price on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.33.

Hims & Hers Health Trading Down 3.2 %

The firm has a market cap of $12.78 billion, a P/E ratio of 132.98 and a beta of 1.35. The business’s 50-day moving average is $33.17 and its two-hundred day moving average is $24.89.

Insider Activity

In other news, COO Melissa Baird sold 67,687 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $44.71, for a total transaction of $3,026,285.77. Following the completion of the transaction, the chief operating officer now owns 706,872 shares of the company’s stock, valued at approximately $31,604,247.12. The trade was a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 2,343 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total transaction of $70,055.70. Following the completion of the sale, the insider now directly owns 165,254 shares in the company, valued at approximately $4,941,094.60. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,052,332 shares of company stock valued at $32,620,497. 17.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds have recently made changes to their positions in HIMS. Neo Ivy Capital Management increased its position in Hims & Hers Health by 145.4% in the 4th quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock valued at $4,031,000 after acquiring an additional 98,798 shares during the period. PharVision Advisers LLC bought a new position in shares of Hims & Hers Health in the fourth quarter worth $234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Hims & Hers Health by 31.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 340,156 shares of the company’s stock valued at $8,225,000 after purchasing an additional 81,495 shares during the period. Two Sigma Advisers LP raised its stake in shares of Hims & Hers Health by 839.2% during the fourth quarter. Two Sigma Advisers LP now owns 524,100 shares of the company’s stock valued at $12,673,000 after purchasing an additional 468,300 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Hims & Hers Health by 37.9% in the fourth quarter. Two Sigma Investments LP now owns 1,967,354 shares of the company’s stock worth $47,571,000 after purchasing an additional 540,274 shares during the period. 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.