Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $40.68, but opened at $37.99. Hims & Hers Health shares last traded at $37.10, with a volume of 5,874,903 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HIMS shares. TD Cowen reissued a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Morgan Stanley lowered shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler increased their price target on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, Leerink Partners lifted their price target on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.23.

Hims & Hers Health Stock Performance

The business’s 50 day moving average price is $36.83 and its two-hundred day moving average price is $26.99. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 95.27 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. On average, sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 78,127 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $29.62, for a total value of $2,314,121.74. Following the transaction, the chief executive officer now owns 109,956 shares of the company’s stock, valued at approximately $3,256,896.72. This represents a 41.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $24.07, for a total value of $174,724.13. Following the sale, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $4,659,976.07. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,062,011 shares of company stock valued at $36,892,724 over the last 90 days. 17.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after buying an additional 2,020,722 shares in the last quarter. Farallon Capital Management LLC raised its holdings in shares of Hims & Hers Health by 64,338.5% during the fourth quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock valued at $202,556,000 after acquiring an additional 8,364,000 shares during the period. Renaissance Technologies LLC lifted its position in shares of Hims & Hers Health by 29.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock valued at $168,079,000 after acquiring an additional 1,562,302 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Hims & Hers Health by 192.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after purchasing an additional 4,145,305 shares during the period. Finally, State Street Corp grew its position in Hims & Hers Health by 4.7% during the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock worth $85,221,000 after purchasing an additional 206,078 shares in the last quarter. Institutional investors and hedge funds 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.